HENRY     RAND     HATFIELD 

2695    LE    CONTE    AVENUE 

BERKELEY.  CALIFORNIA 


A  PRACTICAL 

SYSTEM  OF  BOOK-KEEPING 

BT 

SINGLE  AND  DOUBLE  ENTKY: 


CONTAINING 


FORMS   OF  BOOKS   AND    PRACTICAL  EXERCISES, 


ADAPTED  TO   THE   USE    OP 

THE   FARMER,    MECHANIC,    MERCHANT,    AND 
PROFESSIONAL   MAN. 

TO   WHICH   IS   ADDED 

A    VARIETY    OF    USEFUL    FORMS     FOR    PRACTICAL    USE,    VIZ.  :      NOTES,    BILLS, 

DKAFTS,    RECEIPTS,    ETC.,    ETC.:      ALSO,    A    COMPENDIUM     OF    RULES 

OF    EVIDENCE    APPLICABLE    TO    BOOKS    OF    ACCOUNT,    AND 

OF    LAW    IN    REFERENCE    TO    THE    COLLECTION 

OF    PROMISSORY    NOTES,   ETC. 


L'EYI    S,   FIJLTOtf   A3TD   GEO.   W,   EASTMAN 

AUTHORS   OF   A   COMPLETE    SYSTEM   OF    PENMANSHIP. 

REVISED   EDITION. 


TROY,   N.  Y.: 

PUBLISHED    BY    MOORE     &'    NIMS; 
NEW  YORK:  A.  S.  BARNES  &  BURR, 

AHD  SOLD    BY  TIIK    PRINCIPAL   BOOKSELLERS  THROUGHOUT  THE    UNITED   STATE*. 


BOOK-KEEPING  BLANKS, 

XIATLY  RULED   ON  FINE  PAPER,  AND   PUT  UP  IN  THE  MOST  CONVENIENT  FORM 
FOR  USE  :    ADAPTED   TO  FULTON   AND   EASTMAN'S   BOOK-KEEPING. 

I.  ACCOUNT-BOOK  FOR  THE  FARMER.    One  book. 
II.  DAY-BOOK  AND  LEDGER  FOR  THE  MECHANIC.    Two  books. 
III.  DAY-BOOK,   JOURNAL,   AND  LEDGER  FOR  THE  MERCHANT.     Three 

books. 

The  use  of  the  above  Blank  Books  will  be  found  very  important,  in  familiarizing 
the  Scholar  with  the  Forms  relating  to  the  Keeping  of  Accounts,  according  to  FUL 
TON  and  EASTMAN'S  System  of  Book-keeping. 

Persons  sending  for  these  Blanks  will  please  specify  in  their  orders  the  number 
they  want  of  each  kind. 


Entered  according  to  Act  of  Congress,  in  the  year  1851, 

BY  A.   S.  BAKNES  &  COMPANY, 

In  the  Clerk's  Office  of  the  District  Court  of  the  United  States  for  the  Southern 
District  of  New  York. 

Entered  according  to  Act  of  Congress,  in  the  year  1868, 

BY  MOOEE  &  NIMS, 

In  the  Clerk's  Office  of  the  District  Court  of  the  United  States  for  the  Northern 
District  of  New  York. 


CONTENTS. 


PAGE 

PREFACE 5 — 1 

PREFACE  TO  SECOND  EDITION  . .  8 

COMMERCIAL  ABBREVIATIONS..  .  9 


PAET  FIRST. 

FORM  FOR  FARMERS— Containing 
Examples  and  Explanations  of 
Accounts  with  Persons  of  dif 
ferent  Pursuits 10— 2T 

Practical  Exercises 28-— 32 

FORM  FOR  MECHANICS 33 

Definition  of  the  Day-Book— 
Ledger — Alphabet  or  Index — 

Directions  for  Posting  Books  33—34 

Day-Book 35—42 

Index  and  Ledger 43 — 53 

Practical  Exercises 54—58 

FORM  FOR  MERCHANTS 59 

Description  of  Day-Book — 
Petty  Alphabet  or  Index  to 
tfie  Day-Book,  and  Method 
of  preparing  it — Journal  and 
Directions  for  Journalizing 
— Ledger — Alphabet  or  In 
dex  to  the  Ledger— Direc 
tions  for  Posting  and  Com 
paring  Books,  and  for  Cor 
recting  Errors 59—64 

Day-Book,  or  Blotter ...     65— T4 

Index  to  Day-Book 75— T7 

Journal 78 — 98 

Index  to  Ledger 99 — 102 

Ledger 103—107 


PAGH 

Practical  Exercises 108—114 

Petty  Cash-Book 115—120 

Account  Sales 121 

Bill-Book 122—124 

Account  Current 325 

Bank-Book 126—127 

Bill  of  Purchase 128-129 

Bill  of  Book  Account 130—181 


PAET  SECOND. 


13S 

ib. 


and 


DOUBLE  ENTRY 

Debtor  and  Creditor 

Application     of    Debtor 

Creditor ib. 

Classes  of  Accounts ib. 

Books  used 134 

Definition  of  Books-Day -Book 
— Journal — Ledger  and  In 
dex 134—135 

Auxiliary  Books  —  Definition 

of,  Ac 135 

Definition  and  Object  of  Ac 
counts — Fictitious— Eeal  and 

Personal 185—137 

Directions  for  Journalizing. . .          138 

Directions  for  Posting 139 

To  the  Pupil ib. 

General  Eule  for  Journalizing.          140 

Exercises  in  Journalizing 140 — 141 

Examples  of  Day-Book  Entries 

Journalized  and  Posted 142—144 

Day-Book 147—157 

Journal  158—169 

Index  to  Ledger 170—178 

Ledger 174—194 

Directions  for  Trial  Balance. .  .195— 200 


1^283882 


CONTEXTS. 


PAGE 

Directions  for  Balance  Sheet    201    202 

PAGE 

PROMISSORY  NOTES  ib. 

Inventory-Book                          203  —  204 

Consideration           254 

Invoice-Book              205  —  206 

Of  Presentment  for  Payment  .  .          255 

Sales-Book                 20T—  209 

Proceedings  on  Non-Payment  .           ib. 

Practical  Exercises                     210  —  211 

Of  Payment  ib. 

Interest                                                 256 

FOBM    FOB    EETAILERS  —  Direc 
tions     and    Definitions    of 
Books                 .  .                 212—214 

Forms  of  Notes  and  Eeceipts  .  256—  259 
CHATTEL  NOTES  257 

Day-Book  215—220 

Forma  of  Chattel  Notes  260 

Memoranda  for  Day-Book  220—222 
Index  and  Ledger  223—237 

CHECKS  ON  BANKS  AND  BANKERS          ib. 
Form                                                     261 

Monthly  Cash-Book                   238  —  240 

Merchandise  Book  241—243 

Expense  Book                           244  —  245 

PAET  THIED. 
BOOKS  OF  AC.COUNT....                        247 

BONDS  262 
Common  Form  of  a  Bond  263 

BILLS  OF  EXCHANGE  ib 

Form  of  Chattel  Mortgage                 264 

Of  the  Eequisites  of  a  Bill  248 
Of  the  Obligations  of  Parties.  .          249 

BILL  OF  SALE  ib. 

Of  Transfer  ib 

Common  Bill  of  Sale                          ib 

Of  Presentment  for  Acceptance          250 
Of  Acceptance  ib. 

Of  Proceedings    on  Non-Ac 
ceptance  ib 

General    Form    of  Power   of    •• 

Of  Presentment  for  Payment.          251 
Of  Proceedings   on  Non-Pay 

Eevocation  of  Power  of  At 
torney  •            266 

ment  ....                                          ib 

Of  Payment    and    other  Dis 

DEEDS  ib 

charges  ib 

Quit-Claim  Deed                                267 

Form  of  a  Set  of  Bills  of  Ex 

Warranty  Deed                                   ib 

change  .  .       .   .                                252 

Form  of  a  Draft  or  Inland  Bill          ib. 

MORTGAGE  268 

BOOK-KEEPING. 


PKEFACE. 

BOOK-KEEPING  is  a  mercantile  term,  used  to  denote 
the  method  of  keeping  accounts  of  all  kinds,  in  such  a 
manner  that  a  person  may  at  any  time  know  the  true 
state  of  his  affairs. 

Every  person,  engaged  in  business  for  himself,  should 
keep  a  book  of  some  kind  in  which  to  record  all  his 
business  transactions.  The  day-laborer,  the  farmer, 
and  the  mechanic,  should  keep  an  account  with  every 
person  with  whom  they  deal.  No  one  should  trust 
transactions  of  a  pecuniary  nature  to  his  memory 
alone. 

The  merchant  who  is  incompetent  to  keep  a  full  and 
accurate  record  of  his  business  transactions,  or  neglects 
to  do  it,  must  abandon  all  claims  to  the  confidence 
which  he  might  desire  others  to  repose  in  him ;  all  hope 
of  success  in  the  accumulation  of  property ;  and  forego 
all  peace  of  mind,  which  he  might  otherwise  enjoy,  in 
the  prosecution  of  his  business. 
****  *  #  -x-  *^^. 

Book-keeping  should  be  more  extensively  taught  in 
our  schools.  Among  the  many  books  already  published 
on  this  subject,  none  are  well  adapted  to,  and  very  few, 
if  any,  are  intended  for,  the  use  of  common  schools. 
Hence,  this  important  study  is  almost  entirely  neglected 
by  those  who  attend  such  schools  only,  and  pursued  by 
but  few  who  attend  those  of  a  higher  grade. 

Many,  indeed,  think  that  the  study  of  Book-keeping 
is  useless,  unless  pursued  in  the  counting-room,  or  in 
connection  with  the  actual  business  of  buying  and  sell 
ing.  This  is  a  great  mistake.  Book-keeping  is  one  of 
the  most  important  branches  of  study  that  can  be  pur 
sued  by  those  of  suitable  age  and  attainments  in  our 


6  BOOK-KEEPING. 

schools  of  every  grade.  It  is  a  highly  important  branch 
of  female  education,  and  should  be  ranked  next  in  the 
course  of  study,  and  next  in  importance,  to  reading, 
writing,  and  arithmetic.  As  welf  might  a  person  post 
pone  the  study  of  arithmetic  until  he  has  occasion  to 
cast  the  interest  on  a  note,  or  to  use  a  knowledge  of 
figures  for  any  other  purpose,  as  to  defer  the  study  of 
Book-keeping  till  he  has  the  cares  of  actual  business 
on  his  mind.  In  fact,  while  the  pupil  is  pursuing  this 
study,  he  is  applying  the  principles  of  arithmetic  in  a 
most  practical  manner.  He  is  gaining  discipline  of 
mind — as  much,  at  least,  as  by  any  other  study.  He 
is  learning  to  spell  the  names  of  a  great  many  articles 
in  commerce,  which  would  not  otherwise  come  under 
his  notice.  He  is,  or  may  be,  improving  his  style  of 
penmanship,  especially  when,  as  in  this  work,  all  the 
items,  wrhich  he  is  required  to  copy,  are  printed  in  a 
beautiful  script  type.  By  taking  such  a  view  of  the 
subject,  we  are  led  unhesitatingly  to  assert,  that  the 
school-room  is  the  place  to  study  Book-keeping ;  and, 
with  a  suitable  teacher  and  text-book,  a  thorough 
knowledge  of  it  can  be  obtained  there. 

Such  a  text-book  the  Authors  confidently  believe 
they  now  submit  to  the  public. 

The  work  is  divided  into  three  parts.  Part  First 
embraces  three  forms,  or  methods  of  keeping  accounts, 
adapted  to  the  use  of  particular  classes  of  individuals, 
and  suited  to  the  different  capacities  of  students. 

After  each  form  is  a  practical  exercise,  designed  to 
test  the  learner's  knowledge  of  the  form  he  has  just 
passed  through,  and  which  cannot  fail  to  give  as  thor 
ough  and  practical  a  knowledge  of  Book-keeping  as 
could  possibly  be  obtained  in  a  counting-room. 

The  following  are  some  of  the  advantages  of  the 
"  Merchants'  Form"  over  that  generally  used  by  them, 
where  the  Journal  is  a  mere  copy  of  the  D ay-Book  or 
Blotter,  and  where  each  entry,  or  all  those  on  the  same 
page  of  the  Journal,  are  separately  posted  : 

"it  saves  more  than  one-third  of  the  writing  in  jour 
nalizing.  It  saves  at  least  three-fourths  the  labor  in 


PREFACE. 


posting.  It  requires  but  twelve  lines  in  the  Ledger  to 
post  a  year's  business,  while  in  the  ordinary  way  as 
many  pages  may  be  necessary.  In  settling  with  a  per 
son  at  the  end  of  a  year,  you  have  only  to  refer  back 
to  twelve  places  in  the  Journal  to  show  him  all  the 
items  of  his  account,  whereas  in  the  ordinary  manner  of 
keeping  books  you  might  have  to  refer  to  five  hundred. 

Other  advantages  might  be  named,  but  these  are 
deemed  sufficient  to  mention  here. 

Part  Second  contains  a  clear  and  comprehensive 
exposition  of  the  principles  of  Double  Entry  exemplified 
in  two  sets  of  books,  the  second  of  which  is  peculiarly 
adapted  to  a  retail  business  ;  and  as  double  entry  is  the 
only  method  that  can  be  relied  on  for  accuracy,  it  is 
confidently  believed  that  this  form  of  books,  when 
known,  will  be  generally  adopted  by  that  class  of  mer 
chants  for  whom  it  is  designed. 

The  Third  Part  was  prepared  by  a  member  of  the 
bar,  and  the  authorities  consulted,  and  from  which  the 
rules  here  laid  down  were  collected  (in  addition  to  the 
reports  of  our  Supreme  Courts),  are  Story's,  Chitty's, 
and  Byle's  elaborate  and  scientific  treatises  upon  bills 
and  notes. 

This  part  consists  of  rules  of  evidence  and  general 
rules  of  law,  in  relation  to  bills  of  exchange,  &c.,  to 
gether  with  a  large  number  of  forms  useful  to  all  classes 
of  business  men  ;  such  as  bonds,  receipts,  &c.,  &c. 


*         *         #         *         * 


ROCHESTER,  January,  1851. 


PKEFACE 

TO   THE    REVISED    EDITION. 

IN  the  revision  of  this  work,  such  alterations  have 
been  made,  as  were  necessary,  to  meet  more  fully  the 
wants  of  both  teacher  and  pupil.  These  alterations  are 
confined  entirely  to  the  arrangement  of  the  materials  of 
the  book — so  that  the  new  edition  may  be  used  with 
the  old,  without  creating  confusion.  In  making  these 
alterations,  we  have  endeavored  to  avoid  the  necessity 
of  the  pupil's  turning  pages  for  references,  by  having 
examples,  explanations,  and  memoranda,  as  far  as  pos 
sible,  on  opposite  pages ; — to  increase  the  discipline  it 
gives  the  student,  by  changing  many  of  the  examples 
from  the  script  to  the  memoranda  form,  in  order  that, 
instead  of  merely  copying,  the  pupil  may  be  compelled 
to  apply  the  principles ; — to  aid  both  teacher  and  pupil 
in  the  prosecution  of  the  study,  by  the  insertion  of  a 
large  number  of  questions  in  connection  with  each 
form ; — to  simplify  some  portions  of  the  work,  as  the 
Trial  Balance,  Balance  Sheet,  &c.  These,  with  other 
changes,  are  such  as  have  been  suggested  by  those  who 
have  made  practical  use  of  the  book,  and  have  tested 
both  its  virtues  and  faults.  It  is  believed  that  these 
alterations  and  additions,  together  with  the  new  type 
and  style  of  script,  will  add  greatly  to  the  value  and 
efficiency  of  the  work,  thereby  insuring  it  a  warm 
welcome  among  its  patrons. 

TROY,  1863, 


COMMERCIAL  ABBREVIATIONS. 


9 


THE  following  is  a  list  of  the  abbreviations  used  in  this 
work,  and  those  commonly  used  in  Book-keeping : 


Acct..  . 
Agt... 
Amt. . . 

@ 

Aug. . . 


.    .Account. 
.    .Agent. 
. .  .Amount. 
...At. 
. .  .August. 


Bal Balance. 

Bbl Barrel. 

B.  B Bill  Book. 

Bk.  B Bank  Book. 

Blk. ..... .Black. 

Bot Bought 

B.  P Bill  of  Parcels. 

Bro Broad. 

Brot Brought. 

Bush Bushel 

C.  B Cash  Book. 

Co. . . Company 

Com Commission. 

Cr ..Creditor. 

0.  S.  B  . . .  .Commission  Sales  Book. 

Cts Cents. 

Cwt Hundred  Weight. 

Cap Capital 

Dft Draft. 

Disct Discount. 

Do.  or  Ditto.  The  Same. 

Doz Dozen. 

Dr Debtor. 

Ds Days. 

D.  B.. Day-Book. 

Dec December. 

E.  E Errors  Excepted. 

Exch Exchange. 


Gall... 
Gro.. 


..Gallon. 

. .  Gross. 


Hdkf Handkerchief. 

Hhd... 


I.  B Invoice  Book. 

Inst Instant 

Int Interest. 

i.  e That  is. 

1* 


Ins Insurance. 

Invt Inventory. 

Jan January. 

J.  F. Journal  Folio. 

Lab.    Labor. 

Lbs  Pounds. 

Led Ledger. 

Manufg Manufacturing. 

Mdse Merchandise. 

Mos Months. 

No Number. 

KB Take  Notice. 

Oz. Ounce. 

Payt Payment. 

Pd Paid. 

Per By. 

Pr Pair. 

Ps Pieces. 

P.  C.  B Petty  Cash  Book. 

P.  &  L Profit  and  Loss. 

P Page. 

Prem Premium. 

Qrs. .  , Quarters. 

Eecd. . . .  „ Received. 

Recvble. .......  Receivable. 

Rend Rendered. 

R.  R Railroad. 

S.  B Sales  Book. 

Shipt Shipment. 

Sks Skeins. 

Sps Spools. 

Thd Thread. 

IHt Last  Month. 

Yiz. Namely. 

Tds Yards. 

Yr ..Year. 


3 


PART   FIRST. 


FORM  FOR  FARMERS. 


THIS  Form  requires  but  one  book,  in  which  two  pages 
opposite  each  other  are  appropriated  for  each  individual 
account.  The  name  of  the  person  should  be  written  in  a 
bold  hand  at  the  top  of  the  page,  and  the  letters  Dr.  at 
the  right  of  the  name  on  the  left-hand  page,  and  Cr. 
at  the  right  of  the  name  on  the  right-hand  page.  Each 
page  should  be  divided  by  perpendicular  lines  into  five 
spaces,  the  first  for  the  month,  the  second  for  the  day  of 
the  month,  the  third  for  the  items,  the  fourth  and  fifth 
for  dollars  and  cents.  Whenever  you  trust  the  person 
with  any  thing,  the  date,  name,  and  value  of  the  thing 
should  be  placed  on  the  left-hand  or  debit  page;  and 
whenever  he  pays  or  trusts  you  with  any  thing,  the  date, 
name,  and  value  in  dollars  and  cents  should  be  placed 
on  the  right-hand  or  credit  page  of  his  account. 

For  example,  if,  on  the  first  of  January,  1848,  you  sell 
I,  H.  Jameson  five  bushels  of  wheat  at  one  dollar  and 
twenty-five  cents  a  bushel,  and  on  the  fifteenth  day  of  Feb 
ruary  following  he  pays  you  four  dollars;  on  the  fourth  day 
of  March  you  sell  him  twelve  pounds  of  butter  at  fifteen 
cents  per  pound,  eighteen  pounds  of  cheese  at  eight  cents 
per  pound,  and  ten  bushels  of  oats  at  thirty-one  cents  per 
bushel ;  and  on  the  first  day  of  May  he  pays  you  cash  five 
dollars ;  and  on  the  tenth  day  of  May,  you  wish  to  close  the 
account,  and  so  ask  him  for  what  he  still  owes  you,  and  he 
pays  you  the  amount  in  cash,  i.  e.,  three  dollars  and  fifty- 
nine  cents— the  entries  would  be  as  on  the  opposite  page, 


12 


BOOK-KEEPING. 


All  the  accounts  should  be  kept  in  the  above  manner, 
and  on  the  first  day  of  January,  or  of  some  other  month, 
in  each  year,  should  be  settled,  and  the  book  balanced. 

In  settling  with  a  person,  if  he  pays  you  in  cash,  or 
gives  you  his  note  to  balance  his  account,  give  him  credit 
accordingly,  as  in  the  account  of  I.  II.  Jameson,  on  the 
preceding  page. 

If  you  pay  him  cash,  or  give  him  your  note  to  balance, 
charge  him  accordingly.  If  the  account  is  not  balanced 
by  cash  paid,  or  note  given,  it  should  v  be  done  by  giving 
the  person  credit,  or  charging  him  with  enough  to  balance 
it.  For  instance,  if  you  find  that  he  is  owing  you,  give 
him  credit  for  the  amount  "  By  Balance,"  and  charge  the 
same  to  him  in  the  new  account.  If,  on  the  other  hand, 
you  find  that  you  are  owing  him,  make  him  debit  for  the 
amount  "  To  Balance,"  and  credit  him  with  same  in  the 
new  account. 


QUESTIONS. 

What  is  this  form  called  ?  How  many  pages  are  used  for  each  ac 
count  ?  Why  should  the  pages  be  opposite  ?  How  should  each  ac 
count  be  headed  ?  At  which  side  of  the  name  should  the  letters,  Dr. 
and  Cr.,  be  placed?  Into  how  many  spaces  should  each  page  be  di 
vided  ?  For  what  is  the  first  space  used  ?  the  second  ?  the  third  ?  the 
fourth  ?  the  fifth  ?  Whenever  you  trust  the  person  with  any  thing,  on. 
which  page  do  you  place  it  ?  If  the  person  trust  you,  on  which  page  ? 
What  three  things  must  be  put  down  in  each  entry?  When  should 
accounts  be  settled  ?  What  is  meant  by  the  terms  "balance" "bal 
ancing  an  account?"  If  the  account  is  not  balanced  by  cash,  or  a  note, 
how  do  you  balance  it  ?  If  you  credit  the  person  with  the  balance,  on 
which  page  of  the  new  account  do  you  make  the  entry  ?  If  you  debit 
him,  on  which  page  ? 


BOOK-KEEPING.  13 


EXAMPLES   FOR  PRACTICE. 

Rule  a  sheet  of  paper  as  directed,  and  enter  the  follow 
ing  accounts,  in  the  same  manner  as  that  of  I.  H.  Jame 
son. 

4      EXAMPLE  I. 

On  the  first  day  of  January,  1861,  you  sell  Daniel 
White  ten  bushels  of  wheat  at  one  dollar  and  ten  cents  a 
bushel — three  bushels  of  potatoes  at  eighty  cents  a  bushel 
— on  the  fourth  day  of  February,  he  pays  you  ten  dollars — 
on  the  fifth  day  of  March  he  sells  you  two  dozen  eggs  at 
eighteen  cents  a  dozen — on  the  eighth  day  of  April,  you 
sell  him  six  pounds  of  butter  at  twenty  cents  a  pound — 
and  on  the  first  day  of  June,  he  pays  you  four  dollars  and 
twenty-four  cents  to  balance  the  account. 

EXAMPLE  II. 

On  the  second  day  of  June,  1861,  you  sell  George  John 
son,  a  horse  for  one  hundred  and  fifty  dollars — on  the 
sixth  day  of  June,  he  sells  you  a  cow  for  sixty  dollars — on 
the  eighth  day  of  June,  he  sells  you  twenty  bushels  of  oats 
at  forty  cents  a  bushel — on  the  ninth  day  of  June,  you  sell 
him  forty  pounds  of  wool  at  forty-five  cents  a  pound — on 
the  first  day  of  August,  he  gives  you  his  note  at  six  months 
for  one  hundred  dollars  to  balance  the  account. 


14  BOOK-KEEPING. 


IXDEX. 

The  Index  is  sometimes  a  separate  book,  but  it  usually 
is  placed  in  the  front  part  of  the  Account-Book.  Several 
pages  are  divided  into  spaces,  as  on  the  opposite  page  ; 
Each  space  is  marked  by  a  letter.  The  Index  is  used  to 
enable  us  to  refer  the  more  readily  to  accounts  in  the 
book.  For  example,  we  enter  the  account  of  A.  I.  Hovey 
on  the  first  page  of  the  book.  We  look  in  the  Index 
for  the  space  marked  by  the  letter  H.,  the  initial  of  his 
name,  and  enter  his  name  and  the  number  of  the  page. 
Whenever  we  enter  any  account  in  the  book,  we  enter  the 
name  and  number  of  page,  in  the  space  of  the  Index 
marked  by  the  initial  of  the  name.  In  order  to  refer  to 
any  account,  we  turn  to  the  Index,  and  the  space  marked 
with  the  initial  of  the  name,  and  there  find  the  page  on 
which  is  the  account,  to  which  we  can  then  at  once  turn. 
Sometimes,  instead  of  one  page  being  divided  into  spaces, 
each  letter  has  a  separate  page.  If  the  account  should  be 
transferred  to  another  page,  the  number  of  the  new  page 
must,  also,  be  placed  in  the  Index  by  the  name.  After 
the  learner  has  thoroughly  studied  the  foregoing  princi 
ples — let  him  prepare  paper  and  enter  the  following  ac 
counts,  that  are  explained.  Let  the  paper  be  ruled 
with  care — the  writing  distinct — the  figures  correctly 
made — and  the  balancing  lines  drawn  perfectly  straight. 


INDEX   TO   FARMER'S   FORM. 


B 


D 


E 


^Oitter, 


.G 


H 


K 


M 


•  (7~ 

n)     t 


N 


R 


<f 


W 


15 


<J/.      C7&OW 


& 


45 

2 
5 


00 

00 
50 
00 
90 
75 
00 


The  foregoing  account  is  with  a  merchant.  On  the  left- 
hand  page  he  is  debited  with  every  thing  you  have  let 
him  have,  and  on  the  right-hand  page  he  is  credited  for 
every  thing  you  have  purchased  of  him.  On  the  31st  day 
of  December,  1848,  you  wish  to  settle  this  account,  which 
is  done  in  the  following  manner. 

In  the  first  place  you  add  the  sums  in  the  money  col 
umns  of  the  debit  side  of  the  account,  and  find  they 
amount  to  forty-six  dollars  and  fifty-nine  cents,  which  is 
the  sum  total  of  all  that  you  have  let  him  have.  You  next 
add  the  sums  in  the  money  columns  of  the  credit  side,  and 
find  they  amount  to  seventy-eight  dollars  and  eighty-three 
cents,  which  is  the  value  of  all  the  articles  you  have  pur- 

16 


/an. 


''     <~/  'ummina 


C?  ateiatud- 
&  mger 


20 


2      " 

40    » 


y    CP 

A#.    <Juqat 

ff 


5.00 

.4$ 
.40 


.50 
.43 
.75 

.42 
2,00 

•09 


40   00 

^  42 
36 
00 

06 
42 
43 

24 
4\  50 
2  40 
5  50 
34\  $4 
2\  46 
4  50 


/ 
// 


20 


chased  of  him.  You  then  subtract  the  forty-six  dollars 
and  fifty-nine  cents,  the  amount  you  have  let  him  have, 
from  the  seventy-eight  dollars  and  eighty-three  cents,  the 
amount  purchased  of  him,  and  find  the  difference  to  be 
thirty-two  dollars  and  twenty-four  cents,  which  is  the 
amount  you  owe  him.  You  then  pay  him  this  amount, 
and  enter  it  on  the  debit  side  of  his  account,  "  To  Cash  to 
Balance."  The  debit  and  credit  sides  will  now  foot  alike. 
You  next  draw  single  lines  opposite  each  other  under 
these  columns,  and  after  adding  and  placing  the  amount 
under  them,  you  draw  double  lines  to  signify  that  the  two 
sides  are  balanced  and  closed. 


30 


60 

00 


50 
SO 
90 
60 

24 

90 


30\  50 


MEMORANDA   OF   THE   ABOVE   ACCOUNT 

Jan.  4th,  1848.  Bo't  of  J.  Rogers,  1  pr.  fine  sewed  boots,  at  $6.00. 
15th.  Sold  him  5  bushels  of  wheat,  at  $1.12.  29th.  Sold  him  a  ton  of 
hay,  at  $8.00.  Feb.  12th.  Bo't  of  him  1  pr.  of  stoga  boots  for  James, 
at  $2.50;  and  2  prs.  of  boots  for  boys,  $1.75  Mar.  4th.  Sold  him 
36  Ibs.  of  ham,  at  $.07.  27th.  He  mended  boots  for  James,  $.75.  31st. 
Bo't  of  him  1  pr.  woman's  boots  for  Julia,  $1.50.  April  14th.  Sold 
him  8  bushels  of  oats,  at  $.38.  27th.  Sold  him  1  cord  of  wood,  at 
May  1st.  Sold  him  8  Ibs.  of  butter,  at  $.15.  June  19th.  Bo't  of 
pr.  morocco  shoes,  at  $1.25.  30th.  Sold  him  5  bushels  of  potatoes,  at 
$.38.  July  8th.  He  mended  shoes,  $1.13.  24th.  Bo't  of  him  1  pr. 
gaiter  boots,  $2.00.  Aug.  16th.  Sold  him  6  doz.  eggs,  at  $.10.  Oct.  9th. 
Bo't  1  pr.  of  fine  boots,  for  James,  at  $4.00.  28th.  Sold  him  32  Ibs.  of 
cheese,  at  $.07.  Nov.  13th.  Bo't  of  him  1  pr.  fine  brogans,  at  $2.00. 
Dec.  20th.  Sold  him  1  hide,  78  Ibs.,  $  05.  25th,  Bo't  of  him  1  pr. 
pumps  for  James,  $1.75. 

18 


Tamt 


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JPov. 


2 


'9 


08     /   0s* 


tfto 


4.75 


r      ame* 


4    " 

vken 

0s*.  ^a^r 
4 
j 


2 


2 


30. 


00 
50 
50 


50 

25 
43 
00 
00 
00 
75 
42 

~io 


OD  comparing  this  memoranda,  with  the  entries  in  the  account  above, 
you  will  find  that  whenever  I  sold  J.  Rogers  any  article,  I  made  an 
entry  on  the  debit  side— as  in  the  item,  5  bus.  of  wheat— placing  in  the 
first  space  the  month— in  the  second,  the  day  of  the  month— in  the 
third  the  word  "To,"  followed  by  the  name  of  the  articles,  carrying 
out  into  the  fourth  and  fifth,  the  total  cost.  On  the  other  hand,  when°- 
ever  I  bought  any  thing  of  him,  I  made  the  entry  on  the  other  page- 
observing  the  same  order.  On  Dec.  30th,  I  wished  to  balance  this  acc't. 
To  do  this,  I  add  up  the  column  on  the  debit  page,  and  find  that  it 
amounts  to  $30.50.  I  then  add  up  the  column  on  the  credit  page, 
which  amounts  to  $26.38.  I  then  subtract  the  amount  of  credit  from 
the  amount  of  the  debit  column,  and  the  remainder,  shows  that  he  still 
owes  me  $4.12.  I  then  make  the  entry,  "  Dec.  30th,  By  balance  $4.12 ;" 
and  draw  the  lines,  which  denote  that  the  account  is  balanced.  I  then 
open  a  new  account,  either  on  a  new  page,  or,  as  in  this  case,  on  the 
same  page,  and  make  as  the  first  entry— "Dec.  30th.  To  balance 
$4.12."  I  charge  him  with  $4.12  in  the  new  account,  because  that  is  the 
amount  I  give  him  credit  for,  in  the  old  account,  in  order  to  balance  it. 

19 


JPo 


26 


30 


*"     ? 

'    5 


. 


ZTeam,       4.50 


in  tL  $ar  .25 


2.00 
at  6  montnd-  to  Svatance 


2 
3 

25 
2 
6 


63 


25 
00 
90 
00 
00 
00 
00 
00 
00 
40 
H>5 


MEMORANDA  OF  ABOVE  ACCOUNT. 

1848.  Jan.  22d.  Bo't  of  Dwight  Foster  1  brass  plated 
harness,  $30.00.  Mar.  4th.  Sold  him  3  yds.  of  gray  cloth 
at  $.75.  April  28th.  I  worked  for  him  2  days,  with  team, 
at  $1.50  per  day.  Same  date.  Bo't  of  him  1  pr.  of  breast 
straps  $1,  and  2  hame  straps  at  $.25  a  piece.  June  8th. 
He  repaired  my  harness,  $2.00.  Aug.  5th.  I  sold  him 
5  Ibs.  fine  wool,  $.38,  and  paid  him  $25,  in  cash.  Aug. 
19th.  Bo't  of  him  saddle,  bridle  and  martingals,  $16!  Oct. 
16th.  Bo't  of  him  1  pr.  of  collars,  $4.00,  and  1  pr.  of  halt 
ers,  $1.75.  Nov.  llth.  Sold  him  4  bushels  of  corn  in  the 
ear  at  $.25  per  bushel,  and  1  load  of  straw,  $1.  Nov.  30th. 
Bo't  of  him  1  leather  trunk,  for  James,  $8.00.  Dec.  8th. 
Sold  him  2  cords  of  wood  at  $2  per  cord. 

20 


These  transactions  would  be  entered  as  above.  Let  the 
pupil  compare,  carefully,  each  entry  in  the  memoranda 
with  its  corresponding  one  in  the  acc't.  On  the  30th  De 
cember  I  wish  to  close  the  account.  As  in  the  preceding 
account  of  James  Rogers,  I  first  find  the  am't  of  debit 
column,  and  then  of  the  credit  column.  Having  subtract 
ed  the  smaller  from  the  greater,  I  find  that  I  still  owe  him 
$17.10.  Not  having  the  money  to  pay  this  amount,  I  give 
him  my  note  at  6  months,  and,  as  that  represents  cash,  I 
make  the  entry,  "Dec.  30th,  To  my  note  at  6  mo's  to 
balance,  $17.10."  I  then  draw  in  the  figure  columns  the 
lines  as  above,  and  having  added  up  the  columns  on  each 
page,  the  amounts  are  now  of  course  the  same.  The  lines 
drawn  under  the  last  entry  on  the  credit  page  denote  that 
the  account  is  balanced  and  closed. 

21 


0*. 


7 
45 


do.      &toivinq 
if 

/       /y/? 
£LO      <ZT&  o&m& 
/ 


a 


'>^<M,nq 
4.00 
4.00 


2.00 


00 
50 
00 
50 
00 
50 
00 

00 
50 
~00 


MEMORANDA  OF  THE  ABOVE  ACCOUNT. 

1848.  May  1st,  one  day's  labor  plowing  and  harrowing 
of  potato-field,  $2.00.  2d.  Bo't  12  bushels  of  potatoes  for 
seed,  at  $.37^.  Same  day,  two  days'  labor  planting  the  field, 
at$l.  June  20th,  one  day's  labor  plowing,  $1.50 ;  also, 
2  days'  labor,  hoeing,  at  $1.  July  7th,  one  day's  labor 
plowing,  $1.50.  Sept.  15th.  Digging  and  covering  pota 
toes,  $5.00;  also,  sold  12  bushels  of  potatoes,  for  cash, 
at  $.25  per  bushel ;  also,  sold  25  bushels  of  small  potatoes 
at  $.20  per  bush.  1849.  Mar.  17th.  Paid  for  3  days' 
labor,  marketing,  at  $2  per  day;  also  received  cash  for  300 
bushels  potatoes  at  $.35  per  bushel. 

Besides  accounts  with  persons,  the  farmer  finds  it  not 
only  convenient  but  useful  to  keep  accounts  with  his  dif- 

22 


ferent  fields  and  departments  of  labor,  in  order  to  know, 
accurately,  the  yearly  gains.  The  above  account  is  one 
kept  to  ascertain  the  profit  on  a  potato-field  for  one  year. 
It  is  headed  "Potato-field,  One  Acre  Lot."  It  is  made 
debtor  to  the  labor  of  preparing  and  cultivating  the  ground, 
to  the  cost  of  the  seed,  to  digging  and  covering  the  crop, 
and  the  cost  of  marketing.  It  is  credited  with  the  re 
ceipts  for  the  crop.  By  adding  up  the  columns,  as  in  fore 
going  account,  and  subtracting  the  less  from  the  greater, 
we  find  that  the  receipts  exceed  the  expenses  $88.50,  which 
is  then  entered  on  the  debtor  side,  as  "March  IVth,  To 
profit  on  1  acre  of  potatoes  $88.50,"  in  order  to  balance 
and  close  the  account.  By  pursuing  this  method  with  all 
his  fields,  the  farmer  may  determine  with  accuracy  the 
whole  profit  arising  from  the  cultivation  of  his  farm. 

23 


24  BOOK-KEEPING. 

QUESTIONS. 

What  is  the  Index  ?  In  what  part  of  the  book  is  it  placed  ?  Is  it 
ever  a  separate  book  ?  Describe  its  ruling  and  use.  How  would  you  enter 
A.  J.  Hovey's  account  in  Index?  How  does  the  Index  enable  you  to 
refer  to  an  account  ?  If  an  account  is  transferred  to  another  page  in  the 
Leger,  what  entry  do  you  make  in  the  Index? 

When  the  learner  has  become  so  familiar  with  the  fore 
going  exercises,  as  to  be  able  to  enter  the  accounts  nicely 
on  paper  ruled  for  the  purpose,  let  him  enter  in  his  blank 
book  the  memoranda  on  the  following  pages.  The  pupil 
should  avoid  all  mistakes.  The  teacher  should  insist  upon 
the  entries  being  made  with  the  greatest  care.  A  blot  on 
the  page  is  unpardonable.  All  figures  should  be  made 
with  great  neatness.  The  heading  of  each  account  should 
be  in  a  good  bold  style — the  entries  in  a  clear  writing  with 
out  flourishes.  The  ruler  should  be  used  in  drawing  the 
lines.  A  quill  pen  and  red  ink  are  the  best  for  this  purpose. 

Memoranda  of  transactions  between  Barney  McGuinniss 
and  myself: 

1848.  Feb.  8.  He  cut  for  me  8  cords  of  wood,  at  $.38  per  cord.  Same 
day,  I  sold  him  2  bushels  of  wheat,  at  $1.12  per  bushel,  and  20£  Ibs.  of 
pork,  at  $.08  per  Ib.  Mar.  1st.  He  has  sawed  wood  for  me  3  days,  end 
ing  this  day,  at  $.75  per  day.  April  1st.  I  sold  Mm  1  bushel  of  corn, 
$.G3 ;  also  |  bus.  beans,  at  $1.00  per  bush.  April  8th.  He  has  worked 
4  days  drawing  manure,  ending  to-day,  at  $.75  per  day.  April  24th, 
He  has  worked  6  days,  building  wall,  at  $.75  per  day.  May  8th.  I  sold 
Mm  a  pig  for  $.75,  and  plowed  his  garden  for  $.75.  May  29th.  He  has 
worked  for  me  2  days,  hoeing  corn,  at  $.75  per  day.  June  7th.  I  sold 
him  3  yds.  gray  cloth,  at  $.75  per  yd.,  and  paid  him  $3.00  in  cash.  July 
24th.  He  has  worked  for  me  3  ds^s,  haying,  at  $1  per  day.  Aug.  12th. 
He  has  worked  for  me  5  days,  harvesting,  at  $1.50  per  day.  Sept.  9th. 
I  have  pastured  his  cow  for  4  weeks,  ending  to-day,  at  $.25  per  week. 
Oct.  9th.  He  haa  worked  for  me  2  days,  threshing,  at  $.88  per  day. 
Nov.  llth.  He  has  husked  corn  for  me  for  2  days,  at  $.75  per  day. 
Nov.  13th.  I  sold  him  4  Ibs.  of  butter,  at  $.13  per  Ib. 


BOOK-KEEPING.  25 

If  the  memoranda  are  properly  entered  the  pupil  will 
find  that  the  account  will  be  balanced  by  making  this 
entry:  "Dec.  30th.  To  cash  to  balance,  $14.77,"  the  ain't 
I  owed  and  paid  him  on  that  day. 

Memoranda  of  transactions  between  my  hired  man,  James 
Hamilton,  and  myself: 

1848.  Feb.  12th.  Purchased  a  pr.  of  boots  for  James  Hamilton,  at  $2.50. 
March  2 7th.  Paid  for  mending  his  boots  $. 7  5.  April  1 5th.  Paid  him  cash 
$5.00.  May  1st.  I  owe  him  for  4  mo's'  labor,  closing  to-day,  at  $9.00 
per  month.  May  4th.  Paid  his  bill  for  goods  at  Hovey's,  $31.81.  May 
15th.  Paid  Wilder,  for  making  a  suit  of  clothes  for  James  Hamilton,  $8. 
July  3d.  Paid  him  cash  $10.00,  and  let  him  the  use  of  horse  and  car 
riage  1  day  for  $1.50.  July  31st.  I  owe  him  for  2  mo's'  labor,  ending 
to-day,  at  $10  per  month.  Oct.  9th.  Purchased  for  him  1  pr.  of  fine 
boots  $4,  and  overcoat  $14.  Nov.  30th.  Purchased  for  him  1  leathern 
trunk,  $8.  Dec.  25th.  Purchased  for  him  1  pr.  of  pumps,  $1.75.  Dec. 
30th.  Paid  him  in  cash  $15. G9,  and  I  owe  him  for  labor  6  rno's,  ending 
to-day,  at  $12  per  month. 

If  the  memoranda  are  properly  entered,  the  account  will 
be  balanced  by  making  the  following  entry:  "Dec.  30th. 
To  my  note  at  3  mo's  to  balance,  $25." 

Memoranda  of  transactions  between  the  blacksmith,  James 

McElvain,  and  myself: 

1848.  Jan.  8th.  Bo't  of  him  1  lumber  sleigh  $28.00,  and  he  also  shod 
my  horse  for  $1.  Feb.  9th.  He  set  1  shoe,  $.13.  April  15th.  He  made 
1  large  clevis  for  me,  $1.  May  4th.  He  mado  2  hoes  for  me,  at  $.50. 
June  8th.  He  sharpened  Colter,  $.13,  and  shod  my  horses  for  $1.75. 
Aug.  5th.  He  set  wagon  tire  for  me,  $1 ;  also  mended  chain,  $.13.  Aug. 
14th,  I  sold  him  1  ton  of  hay,  $8.  Sept.  9th.  He  ironed  whippletrees 
for  me,  $1.50.  Oct.  22d.  I  sold  him  5  cords  of  wood,  at  $2  per  cord. 
Nov.  15th.  Sold  him  4  bus.  of  wheat  at  $1.12  per  bush.;  16  bus.  of  oats 
at  $.3$  per  bus. ;  and  3  bus.  of  corn,  at  $.62  per  bus.  Nov.  18th.  Bo't 
of  him  14  Ibs.  of  gate  hinges  at  $.13.  Dec.  21st.  Worked  for  him  1  day 
with  team,  $1.50. 


26  BOOK-KEEPING. 

If  the  memoranda  are  properly  entered,  the  account  will 
be  balanced  by  making  the  following  entry:  "Dec.  30th. 
To  cash  to  balance,  $5.54." 

Memoranda  of  transactions  between  the  tailor -,  Chester 

Wilder •,  and  myself: 

1848.  February  1st.  He  made  a  coat  for  me,  $5.00.  March  15th.  Sold 
him  1  cord  of  wood,  $2.00.  March  16th.  He  cut  2  pairs  of  pants  for  the 
boys  at  $.19  each;  also,  bought  of  him  1  satin  vest,  $4.00.  April  8th. 
Sold  him  6  Ibs.  of  butter,  at  $.15  per  Ib.  May  15th.  He  made  suit  of 
clothes  for  James,  $8.00.  June  22.  Sold  him  1  bbL  of  flour  $6.00,  and 
paid  him  cash  $10.50.  Oct.  9th.  Bo't  of  him  an  overcoat  for  James, 
$14.00.  Oct.  18th.  He  cut  2  coats  for  boys,  at  $.38  a  piece.  Nov.  23d.  Sold 
him  |  ton  of  hay,  at  $8  per  ton.  Dec.  1 1th.  Sold  him  a  hog,  weighing  249 
Ibs.,  at  $.4  per  Ib.  Dec.  25th.  Bought  of  him  1  pair  of  cassimere  panta' 
loons,  $6.00. 

If  the  above  memoranda  are  properly  entered,  the  ac 
count  will  be  balanced  by  making  the  following  entry: 
"Dec.  30th.  To  cash  and  balance,  $4.78." 

Memoranda  of  expenditures  and  receipts  incurred  in  fat 
tening  5  hogs^kept  to  ascertain  the  profit.  (Pork  account.) 
1848.  Oct.  15th.  Bought  5  hogs,  total  weight  H871bs.  a  $  ,03  per  Ib. ; 
and  75  bushels  of  com  at  $.50  per  bushel     Nov.  13th.   Paid  $.05  per 
bushel  for  grinding  30  bus.  of  com.     Dec.  16th.  Paid  cash  $5  for  butch 
ering  the  pigs.     Dec.  16th.  Laid  by  672  Ibs.  pork  for  family  use  at  $.05 
per  Ib.     Dec.  17th.  Sold  1,167  Ibs.  pork,  at  $.05  perlb. 

If  the  above  memoranda  are  properly  entered,  the  ac 
count  will  be  balanced  by  making  the  following  entry: 
"  Dec.  17.  To  profit  on  fattening  pork,  |12.34." 

Memoranda  of  expenditures  and  receipts,  in  cultivating 
5  acres  of  corn,  kept  to  ascertain  profit.  (^Cornfield 
account?) 

1848.  May  1.  Manured  5  acres  at  $2  per  acre.  May  3d.  3  days' 
plowing,  at  $2  per  day.  May  4th.  1  day  harrowing,  $2.  May  5th.  \\ 
days  furrowing,  at  $1.50  per  day.  May  6th.  £  bushel  of  seed  corn,  at 


BOOK-KEEPING.  27 

$1  per  bL;  and  4  days'  planting  at  $.75  per  day.  June  6th.  Cultivated 
4  days,  $1.50  per  day,  and  hoed  5  days,  $.75  per  day.  July  8th.  Plow 
ed  3  days,  $1.50  per  day,  and  hoed  5  days,  $.75  per  day.  Sept.  5th.  4 
days  cutting  up  the  corn,  $.75  per  day.  Nov.  1st.  16  days  husking, 
$.75  per  day,  and  2  days  drawing  in  at  $2.00.  Nov.  1st  Stored  for 
home  use  56  bushels  ears  soft  corn  at  $.12£,  and  163  bushels  hard  corn 
at  $.25;  also  cornstalks,  $10.  Nov.  2d.  Sold  2  loads  of  pumpkins  at 
$.75  per  load,  and  reserved  6  loads  for  home  use  at  $.50  per  load.  Dec. 
14th.  3  days  threshing  and  cleaning  corn,  at  $.75  per  day;  also  2  days 
marketing,  at  $2  per  day.  Dec.  14th.  Sold  140  bushels  shelled  corn,  at 
$.50  per  bushel.  Dec.  15th.  Interest  on  5  acres  at  $50,  at  7  per  cent.= 
$250*.07=~$17.50. 

If  the  above  memoranda  be  properly  entered,  the  ac 
count  will  be  balanced  by  making  the  following  entry: 
"Dec.  16th.  To  profit  on  crop,  $47.50." 

Memoranda  of  expenditures  and  receipts  in  cultivating  10 
acres  of  wheat  kept  to  ascertain  profit.  (  Wheatfield 
account.) 

1848.  June  16th.  Plowed  7  days  at  $2.  June  19th.  Harrowed  2 
days  at  $2.  Sept.  6th.  Worked  6  days  cultivating  at  $2 ;  also,  sowed 
17^  bushels  seed  wheat  at  $1.25 ;  also  worked  1  day  at  sowing,  at  $1.00, 
and  2  days  furrowing  and  ditching  at  $2.  1849.  August  9.  Harvested 
10  acres  at  $1.50  per  acre.  Aug.  15th.  Drew  the  wheat  into  the  barn, 
$6.  Sept.  28th.  Threshed  200  bushels  at  .07  pr.  bush.  Oct.  5th.  Took 
15  bushels  for  family  use  at  $1.00  per  bl.,  and  sold  85  bushels  at  $1.06. 
Oct.  15th.  Marketed  200  bushels,  a  $  ,03  per  bl.  sold  100  bushels  at  $1 .00 . 
allowed  for  wear  of  implements,  $2.00;  also  interest  on  10  acres  at  $50 
at  7  per  cent.=$500  *  .07=$35. 

If  the  above  memoranda  be  properly  entered,  the  ac 
count  will  be  balanced  by  making  the  following  entry: 
"Oct.  16th.  To  profit  on  10  acres  of  wheat,  $70.22." 


28  BOOK-KEEPING. 

PRACTICAL  EXERCISES. 

FARMER'S  FORM. 

THE  learner  having  carefully  studied,  and  practiced 
upon  the  preceding  accounts,  may,  now,  enter  in  his 
blank-book  the  memoranda  on  the  following  pages,  being 
careful,  to  write  distinctly,  and  to  make  all  the  letters  and 
lines  correctly,  avoiding  mistakes.  In  these  memoranda 
the  names  are  not  given,  but  the  occupation,  as  merchant, 
blacksmith,  shoemaker,  tailor,  &c.  The  learner  may  sub 
stitute  for  these  the  names  of  persons  with  whom  he  is 
acquainted,  following  these  occupations.  The  price  per 
yard,  ounce,  pound,  ton,  day,  month,  pair,  piece,  &c.,  is 
given,  leaving  the  amount  to  be  extended  by  the  learner. 
He  may  also  substitute  the  abbreviations,  wherever  they 
can  be,  in  place  of  the  whole  word. 

The  accounts  to  be  opened  in  this  set  are  with  a  mer 
chant,  shoemaker,  blacksmith,  tailor,  harness-maker,  hired 
man,  neighbor,  cornfield,  and  wheatfield ;  and  if  the 
transactions  are  properly  disposed  of,  the  balances  will 
show  that  I  am  indebted  as  follows  :  To  the  shoemaker, 
$8.20  ;  the  hired  man,  $82.31  ;  the  harness-maker,  $19.00  . 
the  blacksmith ;  $9.00 ;  the  merchant,  $5.25.  The  tailor' 
owes  me  $11.09  ;  my  neighbor  owes  me  $1.25.  Profit  on 
10  acres  of  corn,  $85.83 ;  do.  on  15  acres  of  wheat, 
$185.08. 

The  foregoing  principles  are  sufficient  to  enable  any  fir 
mer  to  keep  accurate  accounts — ascertaining  what  crops, 
&c.,  are  the  most  profitable.  It  is  the  usual  custom  to 
keep  the  cash  account  in  a  separate  book,  called  the  cash- 
book — a  full  explanation  of  that  book  is  given  in  another 
part  of  this  volume. 


MEMORANDUM   FOR   1850. 

JANUARY. 

5th.  Sold  the  tailor  2  cords  of  wood,  at  $2.1 2^.  Bought 
of  the  shoemaker  2  pair  of  stoga  boots,  at  $2.50.  14th. 
Bought  of  the  tailor  1  pair  of  pantaloons  for  my  hired 
man,  at  $6. 00.  15th.  Sold  the  shoemaker  3  cords  of  maple 
wood,  at  $2.00,  and  bought  of  him  1  pair  of  woman's 


BOOK-KEEPING.  29 

boots,  at  $1.50.  19th.  The  tailor  has  cut  a  pair  of  panta 
loons  for  me,  at  25c.,  and  a  coat  at  50c.  28th.  Sold  the 
harness-maker  1  ton  of  hay  at  $8.00,  and  bought  of  him  1 
single  harness  at  $20.00. 

FEBRUARY. 

9th.  Drew  wood  for  my  neighbor  to-day  with  my  team, 
at  $1.50.  16th.  Bought  of  the  shoemaker  2  pair  of  chil 
dren's  shoes,  at  75c.,  and  had  a  pair  mended,  at  25c.  20th. 
Paid  my  hired  man,  cash,  $5.00.  23d.  Sold  the  shoemaker 
half  a  ton  of  hay,  at  $7.00,  and  half  a  bushel  of  beans,  at 
$1.00.  25th.  My  hired  man  has  lost  2  days  time,  at  50c. 
28th.  The  tailor  has  made  a  vest  for  me,  at  $1.50. 

MARCH. 

9th.  Worked  for  the  blacksmith  1£  days  with  my  team, 
at  $1.50.  16th.  The  blacksmith  mended  my  hay-knife,  at 
25c.  Bought  of  the  merchant  30  yards  of  Brown  Factory, 
at  10c.,  and  half  a  dozen  spools  of  white  thread,  at  62c. 
23d.  Bought  1  Ib.  Young  Hyson  tea,  at  75 c.,  and  sold  him 
1|  tons  of  hay,  at  $8.00.  25th.  Sold  the  harness-maker 
25  bundles  of  rye  straw,  at  4c.,  and  he  has  repaired  my 
harness,  at  $4.00. 

APRIL. 

6th.  Sold  the  blacksmith  9  pounds  of  butter,  at  14c. 
15th.  My  neighbor  has  plowed  for  me  1  day  with  his  team, 
at  $1.50.  The  blacksmith  has  ironed  my  whippletrees,  at 
$1.25,  and  sharpened  my  colter,  at  12c.  18th.  Sold  the 
blacksmith  5  bushels  of  potatoes,  at  50.  23d.  The  shoe 
maker  has  tapped  my  boots,  at  50c. 

MAT. 

1st.  Bought  of  the  blacksmith  1  large  device,  at  $1.13, 
and  plowed  the  shoemaker's  garden,  at  $1.00.  4th.  Fin 
ished  plowing  cornfield  to-day,  7  days,  with  team,  at 
$2.00.  5th.  Planted  corn  1  day  for  my  neighbor,  at  75c. 
7th.  Sold  the  tailor  4  bushels  of  potatoes,  at  31c.,  and  5 
Ibs.  of  butter,  at  12^0.  Labored  2  days  harrowing  corn 
field,  at  $2.00,  and  2  days  furrowing  cornfield,  at  $1.50. 
8th.  Planted  in  cornfield  2  bushels  of  seed  corn,  at  $1,  and 
finished  planting  cornfield,  eight  days,  at  $1.00.  14th.  My 
neighbor  let  me  have  25  bushels  of  potatoes,  at  30c.  15th. 


30  BOOK-KEEPING. 

Bought  of  the  merchant  three  yards  of  black  cassimere, 
at  $1.50,  25  pounds  of  sugar,  at  9c.,  one  pound  of  Young 
Hyson  tea,  at  75c.;  and  sold  him  fifteen  pounds  of  butter, 
at  12£c.,  and  9  dozen  of  eggs,  at  lOc.  31st.  Bought  of 
the  harness-maker  one  saddle,  at  $14.00,  and  paid  him 
cash  $10.00. 

JUNE. 

1st.  Bought  of  the  shoemaker  2  pair  of  Morocco  bus 
kins,  at  $1.25.  6th.  My  neighbor  has  hoed  corn  for  me,  3 
days,  at  75 c.  8th.  Cultivated  cornfield  eight  days,  with 
horse,  at  $1.50,  and  finished  hoeing  cornfield,  twelve  days, 
at  $1.00.  9th.  Blacksmith  has  repaired  my  wagon,  at 
$3.25,  and  shod  two  horses,  at  $1.00.  15.  Bought  of  the 
shoemaker  1  pair  of  gaiter  boots,  at  $2. 25.  21st.  Sold  the 
blacksmith  12  pounds  of  butter,  at  12|c.  22d.  Finished 
plowing  wheatfield,  fifteen  acres,  ten  days,  at  $2.00.  25th. 
Sold  the  merchant  15  bushels  of  oats,  at  30c.,  and  gave 
my  hired  man  an  order  on  him  for  goods,  $18.50.  26th. 
Finished  harrowing  wheatfield,  three  days,  at  $2.00. 

JULY. 

1st.  Sold  the  merchant  8  pounds  of  butter,  at  12£c.,  and 
bought  of  him  1  pound  of  Young  Hyson  tea,  at  75c.,  2 
gallons  of  molasses,  at  44c.,  and  ten  yards  of  calico,  at 
12^0.  2d.  Bought  of  the  shoemaker  one  pair  of  fine 
boots,  for  my  hired  man,  at  $4.50.  4th.  Paid  my  hired 
man,  cash,  on  account,  $10.00.  5th.  Finished  plowing 
cornfield,  five  days,  at  $1.50.  15th.  Bought  of  the  black 
smith  one  hay-rake,  at  $8,  and  he  has  mended  my  pitch 
fork,  at  13c.  24th.  Drew  hay,  with  team  for  my  neighbor, 
one  day,  at  $1.50.  25th.  Sold  the  blacksmith  half  ton 
of  hay,  at  $5.00.  31st.  Sold  the  blacksmith  one  ton  of 
hay,  at  $6.00. 

AUGUST. 

3d.  The  blacksmith  has  set  my  wagon  tire,  at  $1.25,  and 
made  a  linchpin,  at  13c.  Sold  the  merchant  two  tons  of 
hay,  at  $6.00.  24th.  Paid  the  shoemaker  cash,  on  account, 
$5.00,  and  sold  him  a  calf-skin  weighing  10^  pounds,  at 
lOc. 

SEPTEMBER. 

2d.  Bought  of  the  blacksmith  one  pair  of  small  device, 


BOOK-KEEPING.  31 

at  $1.25,  and  he  has  set  one  shoe,  at  12c.  4th.  Bought  of 
the  merchant  15  pounds  of  nails,  at  6c.,  and  sold  him 
four  bushels  of  apples,  at  25c.,  and  five  pounds  of  butter, 
at  14c.  5th.  Sold  my  neighbor  eight  bushels  of  seed 
wheat,  at  $1.25.  14th.  Finished  cutting  up  corn  in  corn 
field,  nine  days,  at  $1.00.  Labored  with  team  on  wheat- 
field,  cultivating,  ten  days,  at  $2.00.  Sowed  26  bushels  of 
seed  wheat,  at  $1.25.  Labor,  furrowing,  and  ditching, 
$5.00.  Two  days'  labor,  sowing,  at  $1.00.  18th.  Sold  the 
blacksmith  one  cord  of  wood,  at  $2.00. 

OCTOBER. 

5th.  Sold  the  merchant  12  bushels  of  corn,  at  50c.,  and 
bought  of  him  a  bill  of  goods  amounting  to  $15.94.  The 
blacksmith  has  ironed  a  lumber  wagon  for  me,  at  $22.00, 
and  made  a  neck  yoke,  at  $1.25.  My  neighbor  has 
threshed  for  me  two  days,  at  75 c.  Pastured  the  shoe 
maker's  cow  six  weeks,  at  25c.,  and  bought  of  him  two 
pair  of  boys'  boots,  at  $2.00.  12th.  Sold  my  hired  man 
2f  yards  of  gray  cloth,  at  75c.  17th.  Threshed  for  my 
neighbor  two  days,  at  75c.  18th.  Sold  the  tailor  36 
pounds  of  pork,  at  8c.  19th.  The  tailor  has  made  a  pair 
of  pantaloons  for  my  hired  man,  at  $]  .00. 

NOVEMBER. 

2d.  Measured  out  of  the  products  of  my  cornfield,  for 
home  use,  74  bushels  of  ears  of  soft  corn,  at  13c.;  315 
bushels  of  ears  of  sound  corn,  at  25c.;  cornstalks,  $25.00  ; 
pumpkins,  at  $5.00.  8th.  Sold  the  blacksmith  two  bushels 
of  turnips,  at  25c.  9th.  Labored  in  cornfield,  husking, 
forty  days,  at  $1.00  ;  five  days  with  team,  drawing  in,  at 
$2.00.  13th.  Bought  of  the  merchant  1  umbrella,  at 
$1.50,  5  pounds  of  coffee,  at  14c.,  and  10  pounds  of  cotton 
batting,  at  10c.;  and  sold  him  15  bushels  of  potatoes,  at 
25c.,  and  20  bushels  ears  of  corn,  from  cornfield,  at  25c. 
15th.  Bought  of  neighbor  one  barrel  of  salt,  at  $1.25. 
22d.  The  blacksmith  has  shod  for  me  one  pair  of  horses, 
at  $2.00.  Sold  the  tailor  half  a  ton  of  hay,  at  $8.00. 
25th.  Sold  the  blacksmith  12  bushels  of  ears  of  corn,  from 
cornfield,  at  25c.  29th.  Sold  the  tailor  three  bushels  of 
wheat,  at  $1.25.  Paid  my  hired  ,nan,  cash,  $8.00.  Bought 
of  the  shoemaker  one  pair  of  fine  boots,  at  $4.50. 


32  BOOK-KEEPING 

DECEMBER. 

2d.  Sold  the  blacksmith  five  barrels  of  cider,  at  $1.25. 
5th.  Bought  of  blacksmith  28  pounds  of  gate  hinges,  at 
12c.  7th.  Sold  the  shoemaker  one  cord  of  wood,  at  $2.25. 
llth.  Sold  the  tailor  6  yards  of  gray  cloth,  at  56c.,  and  14 
pounds  of  lard,  at  7c.  14th.  Labored  threshing  corn,  from 
cornfield,  seven  days,  at  $1.00.  16th.  Received  cash, 
for  one  hundred  bushels  of  corn,  at  50c.  18th.  Bought  of 
the  merchant  2^-  yards  of  cassimere,  for  my  hired  man,  at 
$1.25,  and  8  pounds  of  crushed  sugar  for  myself,  at  13c. 
Sold  him  two  cords  of  body  maple  wood,  at  $2.50.  The 
blacksmith  has  sharpened  and  set  6  shoes  on  my  horses,  at 
12£c.  The  tailor  has  cut  for  me  2  pair  of  pantaloons,  at 
25c.,  and  one  vest  at  25c.  Bought  of  the  shoemaker  one 
pair  of  stoga  boots,  for  my  hired  man,  at  $2.50.  Sold  the 
blacksmith  4  cords  of  wood,  at  $2.25,  and  8  bushels  of 
oats,  at  31c.  25th.  Bought  of  the  merchant  2  gallons  of 
molasses,  at  44c.,  5  pounds  of  raisins,  at  13c.,  and  5  pounds 
of  rice,  at  6c.  30th.  Received  cash  for  80  bushels  of 
corn,  at  56c.  31st.  Received  cash  for  52  bushels  of  corn, 
at  56c.  Marketing  232  bushels  of  corn,  at  3c.  My  hired 
man  has  worked  for  me  8  months  at  $13.00,  and  4  months 
at  $10.00.  Int.  on  cornfield  land,  10  acres,  at  $50,00  per 
acre,  at  7  per  cent. 

To  close  the  account  with  wheatfield,  it  will  be  necessa 
ry  to  trespass  a  little  on  the  year  1851. 

August  13th.  Harvesting  15  acres,  at  $1.25.  24th. 
Drawing  it  into  the  barn,  $10.00.  October  19th,  Thresh 
ing  346  bushels  of  wheat,  at  7c.  Reserved  46  bushels 
for  home  use,  at  $1.00  26th.  Sold,  for  cash,  85  bushels  of 
wheat,  at  $1.25.  November  15th.  Sold  for  cash,  100 
bushels  of  wheat,  at  $1.13.  18th.  Sold,  for  cash,  80 
bushels  of  wheat,  at  $1.06.  22d.  Sold,  for  cash,  35  bush 
els  of  wheat,  at  $1.00.  Marketing  300  bushels  of  wheat, 
at  3c.  Interest  on  15  acres  of  land,  at  $50.00  per  acre,  at  7 
per  cent. 


FOEM  FOR  MECHANICS. 


books  necessary  in  this  form  are  the  Day-book  and 
Ledger.  The  cash  account  may  be  kept  in  a  separate 
book — forming  a  Cash-book,  or  not,  at  the  option  of  the 
Book-keeper. 

The  accounts  might  be  kept  as  in  the  Farmer's  form,  in 
one  book,  i.  e.,  the  Ledger  ;  only,  it  would  not  be  as 
convenient,  for  the  mechanic  is  constantly  called  away 
from  his  business  to  attend  to  the  wants  of  his  customers. 
And,  besides,  having  many  more  accounts  and  entries 
to  make,  than  the  Farmer,  these  accounts  are  of  a  differ 
ent  nature,  such  as  cannot  be  remembered  till  evening,  as 
those  of  the  Farmer.  Hence  it  is  necessary,  that  the  me 
chanic  should  use  a  book,  in  which  he  can  make  a  full 
record  of  the  transactions  as  they  occur,  and  then  at  his 
leisure,  he  can  arrange  the  various  entries  in  their  respect 
ive  accounts  in  the  Ledger. 

The  Day-book  is  a  book  in  which  all  business  transac 
tions  should  be  recorded  at  the  time  and  in  the  order  in 
which  they  occur.  It  is  divided  by  perpendicular  lines 
into  seven  spaces.  The  month  occupies  the  first  space  ; 
the  day  of  the  month,  the  second ;  the  name  of  the  person 
and  the  transaction,  the  third  ;  the  value  of  the  items,  in 
dollars  and  cents,  the  fourth  and  fifth;  and  their  sum  total, 
the  sixth  and  seventh. 

If,  for  example,  on  the  first  day  of  January,  1848,  you 
sell  Benjamin  Hamilton  the  following  articles  : — One  brass 
plated  single  harness  for  thirty  dollars,  one  pair  of  halters 


34 


BOOK-KEEPING. 


for  one  dollar  and  seventy-five  cents,  and  one  riding  bridle 
for  one  dollar  and  fifty  cents  —  your  Day-book  entry  would 
be  as  follows  : 


30 


33 


25 


If  you  had  purchased  the  same  articles  of  Hamilton,  all 
the  difference  in  the  entries  would  have  been  this  :  after 
the  name  on  the  first  line,  in  the  place  of  Dr.  you  should 
have  written  Or.;  and  on  the  next  line,  in  the  place  of  To 
you  should  have  written  By. 

Whenever  it  is  necessary  to  repeat  the  date,  or  the 
word  To  or  _Z?y,  it  may  be  done  by  placing  two  dots 
(thus,")  under  the  date  or  word  to  be  repeated.  One 
line  should  be  left  between  every  two  entries. 

QUESTIONS. 

What  is  this  form  ?  How  many  books  are  needed  in  this  form  ? 
Name  them.  Is  a  cash  book  needed  ?  Could  the  accounts  be  kept  in 
one  book  ?  Why,  then,  do  they  use  two  ?  What  is  the  Day-book  for  ? 
When  and  how  should  the  transactions  be  entered  ?  Into  how  many 
spaces  is  the  book  divided  ?  For  what  is  the  first  space  used  ?  the 
second,  third,  fourth,  fifth,  sixth,  seventh?  Explain  the  example 
given  ?  What  difference  would  have  occurred  in  the  entries,  if  you 
had  purchased  the  articles  of  him  ?  Instead  of  repeating  date,  what 
may  you  write  ?  Instead  of  repeating  the  words  To  and  By,  what  may 
you  write  ?  How  much  space  should  you  leave  between  each  entry  ? 


DAY-BOOK. 


MECHANICS'    FORM. 


0^. 


.  Cotte 


0. 


ZTo  / 


fO  if'ame* 

ZTo: 


0*. 

.25 


J.25 


0^. 
0*. 


0*. 

&?a,vne<M- 
3.50 


26 


46 


50 


35 


'7 


30 


75 


00 


50 


50 


63 


75 


00 


00 


00 


36 


BOOK-KEEPING.  3*7 

Let  the  pupil  rule  some  paper  and  enter  the  following 
memoranda,  according  to  directions  ;  when  he  has  become 
proficient  in  making  the  entries,  he  may  enter  them  in  his 
day-book. 


MEMORANDA. 

Lyons,  1848,  Saturday,  Jan.  1st.  Sold  Isaac  H.  Jameson 
1  Set  of  Double  Harness,  $26.00,  and  1  pair  of  Halters, 
$1.75.  3d.  Sold  Henry  B.  Holbrook  1  Silver  plated  Sin 
gle  Harness  $35.  4th.  Sold  Daniel  W.  Potter,  1  pair  of 
Breast  Straps  $1,  and  2  Hame  Straps,  at  25c.  5th. 
Charles  D.  Campbell,  1  pair  of  Collars,  $3.50.  Also, 
Sold  Franklin  S.  Clark,  4  Bridles,  at  $1.25,  1  pair  of  Mar- 
tingals,  $75,  and  1  Halter,  $88.  7th.  Sold  Sylvester  N. 
Nurse,  1  Set  of  Single  Tug  Harness,  $16,  and  1  Breast 
Collar,  $1.75,  also  sold  Bela  Dunbar,  1  saddle  $15.  8th. 
Sold  Charles  Harford  1  Brass  Plated  Single  Harness,  $30. 
10th.  Sold  James  S.  Hawkins,  1  Set  Single  Tug  Harness, 
$16,  2  pair  of  Collars,  at  $3.50,  1  pair  of  Halters,  $1.75, 
and  1  pair  of  Tugs,  $3.25. 

The  pupil  will  please  notice,  carefully,  each  abbrevia 
tion,  and  the  position  of  each  entry  on  the  opposite  page. 
The  entries  should  be  so  made,  that  if  a  straight  line  should 
be  drawn  down  the  page  it  would  pass  thro'  the  initial  of 
each  name,  another  thro'  the  word  "  To,"  another  thro' 
the  word,  "  Dr."  Attention  to  these  particulars  will  in 
sure  that  neatness  and  precision,  which  are  absolutely 
necessary  in  book-keeping. 


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BOOK-KEEPING.  39 

MEMORANDA. 

1848.  Jan.  12th.  Sold  Clark  N".  Fulton  1  set  brass  plated 
harness,  $38 ;  1  pair  breast  collars,  $5.50 ;  also  1  pair  mar- 
tingals,  $.75.  13th.  Sold  Aaron  B.  Patterson  1  single  har 
ness,  $22  ;  also  sold  I.  H.  Jameson  1  halter  strap,  $.31, 
and  mended  tug,  $.13.  15th.  Sold  Cornelius  O.  Rumsey 
1  pair  collars,  $3,  and  1  pair  breast  straps,  $1.  17th.  Sold 
Horatio  N.  Short  1  valise,  $3,  and  1  bridle,  $1.13.  19th. 
Sold  Henry  Woodward  1  pair  blind  bridles,  $4 ;  3  name 
straps  at  $.13,  and  1  throat  latch,  $.12  ;  also,  sold  John 
Lynd  1  single  harness,  $18.  21st.  Repaired  harness  for 
Hiram  Hawley,  $3.75,  and  sold  Andrew  C.  Mynderse  1 
trunk,  $4.50. 

(The  above  to  be  entered  in  Day-Book.) 

Let  the  pupil  study  carefully  these  memoranda,  as  en 
tered  on  opposite  page.  The  date  is  set  down  first,  the 
month  in  the  first  space,  the  day  of  the  month  in  the  sec 
ond.  The  name  of  the  person  is  placed  on  the  same  line 
in  the  third  space,  and  in  the  same  space  near  the  double 
line  the  word  "  Dr.,"  if  he  has  purchased  of  you,  "  Cr."  if 
you  have  purchased  of  him.  In  the  same  space  under  the 
name  place  the  word  "  To,"  if  "  Dr."  is  written  after  the 
name,  and  "  By,"  if  "  Cr."  After  this  word  place  the 
item,  the  price  of  each  article  if  composed  of  several,  as  in 
H.  Woodward's  acc't — "3  Hame  Straps  .13" — then  place 
amount  of  item,  if  there  is  one  entry,  in  the  sixth  and  sev 
enth  spaces,  as  in  entry  of  Aaron  B.  Patterson.  If  there 
is  more  than  one  item,  place  the  amount  in  fourth  and  fifth 
spaces,  as  in  the  account  of  Horatio  N.  Short,  "To  1  Valise 
3.00,"  and  then  place  the  combined  amount  of  the  several 
items  in  sixth  and  seventh  spaces  on  the  same  line  of  last 
item,  as  in  H.  N".  Short's  account,  last  line — 

|"  |     |  "  1  Bridle  ||  1  |  13  ||  4     13  j 


40  BOOK-KEEPING. 

From  the  preceding  explanations  the  pupil  will  be  able 
to  enter  the  following  memoranda  in  his  Day-Book.  Let 
them  be  entered  in  immediate  connection  with  the  memo 
randa  on  preceding  pages,  of  which  they  are  a  continuation. 
Let  the  teacher,  in  examining  the  entries  made  by  the 
pupil,  notice  every  mistake,  either  in  entering  the  memo 
randa,  or  in  writing,  or  in  figures.  He  should  insist  upon 
the  columns  of  figures  being  so  placed  that  figures  of  the 
same  order  shall  come  under  each  other. 


MEMORANDA. 

1848.  Jan.  25th.  Cleaned  harness  for  Henry  B.  Holbrook,  $2.50. 
Repaired  it,  $1.88.  Sold  him  1  halter,  $.87.  Also,  sold  Timothy  N. 
Foster  set  silver-plated  harness,  $42 ;  saddle  and  bridle,  $23 ;  and  pair 
halters,  $1.50.  26th.  Repaired  harness  for  Sylvester  N.  Nurse,  $2.38; 
also  covered  the  dash  of  his  buggy,  $3.50.  Same  day  bought  of  Frank 
lin  S.  Clark  1  wash-tub,  $1.13,  and  3  patent  pails,  at  $.31.  Also,  sold 
Timothy  G.  Baldwin  1  set  long  tug  harness,  $26.00.  Aaron  B.  Pat 
terson  has  paid  me  cash  on  account,  $10.00.  29th.  Bought  of  Daniel 
W.  Potter  19  Ibs.  veal,  at  $.04.  31st.  Sold  Charles  D.  Campbell  1  brass 
plated  single  harness,  $30.  Also,  sold  Wm.  Gridley  1  pair  martingals, 
$.75,  3  hame  straps,  at  $.13,  and  1  bum  strap,  $.30.  Also,  repaired 
harness  for  J.  H.  Jameson,  $1,  and  sold  him  1  pair  tugs,  $3,  and  1  pr. 
tugs,  $2.  Also  sold  James  S.  Hawkins  1  brass  plated  gig  harness,  $20, 
and  repaired  harness,  $2.75.  Also  sold  James  H.  Gillett  1  saddle,  $18, 
1  bridle,  $1.50,  1  pair  martingals,  $1,  and  1  halter,  $1.  February  1st. 
Sold  Henry  Woodward  1  pair  fine  boots  for  self,  $4.  Also,  Bela  Dun- 
bar  1  pair  boots  for  hired  man,  $2.50,  and  1  pair  buskins  for  wife,  $1.25. 
Also,  sold  Aaron  B.  Patterson  1  pair  kip  boots  for  George,  $3.25,  and 
repaired  boy's  boots,  $.13.  3d.  Sold  Hiram  Hawley  1  pair  shoes,  $1.50, 
1  pair  children's  shoes,  $.75,  and  1  pair  small  children's  shoes,  $.50. 
4th.  Footed  fine  boots  for  Timothy  N.  Foster,  $3.  Also  tapped  and 
patched  boots  for  Sylvester  N.  Nurse,  $.50,  mended  shoes,  $.13,  and 
sold  him  pair  of  shoes  for  wife,  $1.50.  5th.  Sold  Charles  Harford  2  pair 
small  shoes,  at  $.50.  Also  mended  boots  for  Andrew  C.  Mynderse, 
$.38.  7th.  Bought  of  Timothy  G.  Baldwin  12  Ibs.  butter,  $.13.  10th. 
Sold  Clark  N.  Fulton  1  pair  gaiter  boots,  $2.  llth.  Sold  Henry  B.  Hol 
brook  1  pair  fine  boots,  $5.50,  and  1  pair  boy's  ditto,  $1.75.  14th. 
Sold  Horace  0.  Bigelow  1  pair  buskins  for  wife,  $1.25.  15th.  Sold 


BOOK-KEEPING.  41 

William  Gridley  1  pair  stoga  boots,  $2.50,  and  1  pair  women's  shoes, 
$1.00.  17th.  Sold  Cornelius  0.  Rumsey  2  pair  stoga  boots,  at  $2.50. 
18th.  Bought  of  Horatio  N.  Short  1  bbl.  of  flour,  $7.  Also  sold  Frank 
lin  S.  Clark  1  pair  pumps,  $1.75.  21st.  Sold  John  Lynd  3  pair  buskins, 
at  $1.25  22d.  Sold  James  S.  Hawkins  6  pairs  stoga  boots  at  $2.50. 
25th.  Sold  Daniel  W  Potter  1  pair  fine  boots  for  Eddy,  $5.50.  Same 
day,  bought  of  him  27  Ibs.  pork,  at  $.09.  26th.  Charles  Harford  has 
paid  me  cash  $25.  28th.  Isaac  H.  Jameson  1  pair  gaiters  for  wife,  $2, 
and  footed  fine  boots,  $3.50.  29th.  Sold  Henry  Woodward  1  pair  pru- 
nell  shoes,  $1.50,  1  pair  small  shoes,  $.75,  and  mended  shoes,  $.38. 
March  1st.  Shod  horses  for  Daniel  W.  Potter,  $2.00.  2d.  Sold  William 
Gridley  13  Ibs.  gate  hinges,  at  $.13,  and  4  Ibs.  bolts,  at  $.14.  Same 
day,  sold  Sylvester  N.  Nurse  3  linch  pins,  $.12,  repaired  wagon  for  him, 
$.50,  set  wagon  tire,  $.50,  and  ironed  neck  yoke,  $1.00.  3d.  Mended 
chain  for  Henry  B.  Holbrook,  $.13,  and  sharpened  2  shoes,  $.31.  Also 
sharpened  colter  for  Horatio  N.  Short,  $.13.  Also  sold  James  S.  Haw 
kins  1  large  clevis,  $1.13,  1  pair  small  clevises,  $1.25,  and  ironed  whip- 
pletrees,  $3.  4th.  Shod  horse  for  Andrew  C.  Mynderse,  $1.  6th.  Sold 
Charles  Harford  1  linch -pin,  $.12,  1  hook  and  staple,  $.13,  mended 
shovel,  $.13,  and  set  2  shoes,  $.31.  8th.  Repaired  wagon  for  Wood 
ward,  $3.  9th.  Mended  log  chain  for  Bela  Dunbar,  $.19,  and  shod  his 
horse,  $1.00.  10th.  Sold  Isaac  H.  Jameson  17  Ibs.  gate  hinges,  at  $.13, 
and  shod  bis  horse,  $1.  13th.  Repaired  sulkey  for  John  Lynd,  $3.50. 
Also  bought  of  Henry  Woodward  19  Ibs.  pork,  at  $.07,  21  Ibs.  pork,  at 
$.06,  and  3  bushels  wheat,  at  $1.50.  14th.  Sold  Hiram  Hawley  1  large 
clevis,  $1.25,  and  sharpened  drag  teeth,  $.93.  Also  shod  horses  for 
Timothy  N.  Foster,  $2.  15th.  Shod  horse  for  Franklin  S.  Clark,  toed 
and  set  2  shoes,  $.31,  and  set  2  new  shoes,  $.50.  17th.  Sold  Clark  N. 
Fulton  3  bolts,  at  $.13,  2  linch  pins,  at  $.12.  18th.  Set  1  tire  for  Tim 
othy  G.  Baldwin,  $.38,  and  mended  skein  on  wagon,  $.50.  Also  sold 
Daniel  W.  Potter  1  hook  to  trace  chain,  $.13.  20th.  Sold  Charles  D. 
Campbell  1  king  bolt,  $.75.  21st.  Bought  of  Hiram  Hawley  5  tons  of 
hay,  at  $8.  22d.  Sold  Horace  0.  Bigelow  2  bands  for  drag,  $.38, 
mended  chain,  $.12,  and  shod  horses,  $2.  23d.  Henry  B.  Holbrook 
has  paid  me  cash,  $15.  Sold  Henry  Woodward  1  hook  and  staple, 
$.13.  Also  shod  horses  for  James  II.  Gillett,  $2.  24th.  Sold  Cornelius 
0.  Rumsey  1  iron  wedge,  $.88,  1  linch  pin,  $.12,  and  shod  horse,  $1. 
Also  repaired  drag  for  Timothy  G.  Baldwin,  $.75.  27th.  Bought  of 
Daniel  W.  Potter  8  dozen  eggs,  $.10.  Also  repaired  threshing  machine 
for  Isaac  H.  Jameson,  $4.75.  29th.  Repaired  wagon  for  Sylvester  N. 
Nurse,  $2.50,  and  ironed  neck  yoke,  $.88.  30th.  Sold  William  Gridley 


42  BOOK-KEEPING. 

8  Ibs.  spikes,  at  $.12^,  and  repaired  cart,  $1.88.  31st.  Bought  of  Cor 
nelius  0.  Rumsey  12  Ibs.  butter,  at  $.13,  8  Ibs.  butter,  at  $.10,  22  Ibs. 
pork,  at  $.07,  23  Ibs.  pork,  at  $.06,  and  he  has  paid  me  cash,  $5. 
Henry  B.  Holbrook  has  paid  me  cash  to  balance  his  account,  $32.94. 
Daniel  "W.  Potter  has  paid  me  cash  to  balance  acc't,  $5.14.  Charles  D. 
Campbell  has  paid  me  cash  to  balance  acc't, '$34. 25.  Franklin  S.  Clark 
has  given  me  his  note  at  6  months,  $7.13,  to  balance  acc't. 
Entry  should  be — 

(  "  Franklin  S.  Clark        Cr. 

"j         .  By  note  at  6  mo's  to  bal.  acc't,  $7.13." 

Sylvester  N.  Nurse  has  given  me  his  note,  at  3  mo's  for  $31.50,  to 
balance  acc't.  William  Gridley  has  paid  me  cash  to  balance  acc't, 
$10.07.  BelaDunbar  has  paid  me  cash,  $19.94.  Charles  Harford  has 
given  me  his  note  at  30  days  for  $6.69.  Henry  Woodward  has  paid 
me  cash,  $7.18.  Timothy  G.  Baldwin  has  paid  me  cash,  $26.07.  James 
S.  Hawkins  has  given  me  his  note  at  6  mo's  for  $71.13.  I  have  allowed 
and  credited  John  Lynd  his  acc't  against  me,  $18.75. 

Entry  should  be — 

C  John  Lynd       Cr. 

I  By  am't  of  his  acc't,  $18.75. 

I  have  allowed  and  credited  Isaac  H.  Jameson  his  acc't  against  me, 
$13.75,  and  he  has  given  me  his  note  at  3  mo's  to  balance  account, 
$33.90. 


INDEX    AND    LEDGER. 


MECHANICS'    FORM. 


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ALPHABET,   OR  DsDEX. 


THE  ALPHABET,  or  IXDEX,  is  a  small  book  in  which  are 
arranged,  in  alphabetical  order,  the  names  of  all  persons 
having  accounts  in  the  Ledger,  together  with  the  pages 
on  which  such  accounts  are  entered. 

This  book  was  fully  explained  in  the  last  set,  but  to 
assist  the  pupil  the  names  of  the  accounts  in  this  set  have 
been  placed  in  the  proper  places.  The  pupil  may  copy 
these  names  into  the  blank  index.  The  number  of  the  page 
has  been  purposely  omitted.  Let  the  pupil,  as  soon  as  he 
opens  an  account  in  the  Ledger,  place  the  number  of  the 
page  opposite  the  name  in  the  Index. 

THE  LEDGER. 

The  LEDGER  is  a  book  to  which  each  person's  account 
is  transferred  from  the  Day-book,  and  arranged  on  a  page 
by  itself.  The  name  of  such  person  should  be  written  in 
a'bold  hand  at  the  top  of  the  page,  with  Dr.  on  the  left 
and  Cr.  on  the  right. 

Each  page  of  the  Ledger  should  be  divided  by  a  double 
perpendicular  line  into  two  equal  parts ;  the  one  for  the 
debtor,  and  the  other  for  the  creditor  side  of  the  account. 
Each  of  these  parts  should  also  be  divided  by  perpendicu 
lar  lines  into  six  spaces ;  the  first  space  for  the  month,  the 
second  for  the  day  of  the  month,  the  third  for  the  items, 
the  fourth  for  the  page  of  the  Day-book  on  which  the 


BOOK-KEEPING.  47 

original  entries  were  made,  and  the  fifth  and  sixth  for  dol 
lars  and  cents. 

The  first  account  to  be  opened  in  the  Ledger  is  that  of 
the  person  whose  name  stands  first  in  the  Day-book.  As 
soon  as  it  is  opened  it  should  be  entered  in  the  Alphabet. 

POSTIXG  BOOKS  in  this  form  is  collecting  and  transfer 
ring  each  person's  account  from  the  Day-book  to  its  ap 
propriate  page  in  the  Ledger.  The  entries  recorded  in 
the  Day-book  should  be  posted  in  the  order  4n  which  they 
occur ;  that  is,  the  first  entry  should  be  the  first  posted, 
and  the  second  entry  next,  and  so  on  until  they  are  all 
posted. 

Whenever  there  is  more  than  one  article  charged  or 
credited  to  an  individual  on  the  same  page  of  the  Day 
book,  the  several  sums  should  be  added,  and  the  amount 
entered  in  the  Ledger,  7b,  or  By  Sundries  /  but  when 
there  is  but  one  article  so  charged  or  credited,  it  may  be 
specified  in  the  Ledger. 

QUESTIONS. 

"What  is  the  Alphabet?  What  entries  are  made  in  it?  For  what 
purpose  is  it  used?  When  do  you  make  an  entry  in  this  book? 
"What  is  the  Ledger?  How  are  the  accounts  arranged  in  it?  How 
should  the  page  in  the  Ledger  be  headed?  Into  how  many  equal 
parts  is  the  Ledger  page  divided?  "What  are  these  for?  Into  how 
many  spaces  should  each  of  the  parts  be  divided  ?  For  what  are  the 
different  spaces  used?  Whose  account  must  be  opened  first  in  the 
Ledger?  What  entry  to  be  made  in  the  Index  when  an  account  is 
opened  in  the  Ledger?  What  is  meant  by  "Posting  Books?"  How 
should  entries  in  Day-book  be  posted  ?  When  there  is  more  than  one 
item  in  the  charge  on  Day-book,  what  must  be  done  ?  How  will  you 
enter  the  amount  in  Ledger?  If  there  is  but  one  item  in  the  charge, 
what  may  be  done  ? 


. 


'So 


^ 


,v>  >a    \ 


48 


BOOK-KEEPING.  49 

The  pupil  will  find  on  the  opposite  page  the  account  of 
Isaac  H.  Jameson,  as  it  would  appear  in  the  Ledger. 

On  the  first  page  of  the  Day-book  you  will  find  the  name 
of  Isaac  II.  Jameson,  the  first  recorded.  He  is  there,  on 
the  first  day  of  January,  1848,  made  debtor  for  one  set  of 
double  harness  at  twenty-six  dollars,  and  one  pair  of  hal 
ters  at  one  dollar  and  seventy-five  cents,  the  sum  total  is 
twenty-seven  dollars  seventy-five  cents ;  hence,  we  make 
the  entry — 

Jan.  |  1.  |  To  Sundries  |  1  ||  $27  |  75  | 
On  the  second  page,  13th  day  of  January,  for  one  hal 
ter  strap  at  thirty-one  cents,  and  mending  tug  thirteen 
cents,  sum  total  forty-four  cents,  and  we  make  the  entry 
next  to  the  one  just  entered.  On  the  fourth  page,  31st 
day  of  January,  for  repairing  harness  one  dollar,  one  pair 
of  tugs  three  dollars,  one  pair  of  tugs  two  dollars,  sum 
total  six  dollars.  Of  this  we  make  the  third  entry  on 
debit  side  of  account.  On  the  sixth  page,  28th  day  of 
January,  for  footing  fine  boots  three  dollars  fifty  cents, 
one  pair  of  gaiters  for  wife  two  dollars,  sum  total  five  dol 
lars  fifty  cents,  which  makes  the  fourth  entry  on  debit 
side.  On  the  eighth  page,  10th  day  of  March,  for  seven 
teen  pounds  of  gate  hinges,  at  thirteen  cents  per  pound, 
two  dollars  twenty-one  cents,  shoeing  horse  one  dollar, 
sum  total  three  dollars  twenty-one  cents.  This  is  posted 
as  the  fifth  entry  on  the  debit  side.  On  the  ninth  page, 
27th  day  of  March,  for  repairing  threshing-machine  four 
dollars  seventy-five  cents,  which  is  entered  as  last  entry  on 
debit  side;  and  on  the  tenth  page,  31st  day  of  March,  he 
is  made  credit  for  the  amount  of  his  account  thirteen  dol 
lars  seventy-five  cents,  and  his  note  to  balance  the  account 
thirty-three  dollars  and  ninety  cents,  and  should  be  posted 
as  on  the  following  page  on  the  credit  side  of  the  ac 
count.  The  same  method  is  pursued  in  posting  the  other 
accounts. 


^3 

V 


i  i 


BOOK-KEEPING.  51 

On  the  opposite  page  you  will  find  the  same  account  (Isaac 
H.  Jameson's)  posted  by  figures,  the  small  figures  indi 
cating  the  Day-book  page,  and  the  large  ones  the  amount 
of  the  entry  transferred.  When  the  line  is  filled,  these 
sums  are  added,  and  the  sum  total  extended  into  the  mon 
ey  columns.  This  method  is  very  simple,  and  needs  no 
further  explanation  after  the  instructions  given  on  preced 
ing  page.  It  is  not  as  full  as  the  first  method  of  posting, 
but  is  adopted  by  some,  because  it  occupies  so  much  less 
space  in  the  Ledger  than  the  former.  The  learner,  if  he 
chooses,  may  practise  both. 

By  a  careful  study  of  the  account  given  above,  and  the 
explanations  accompanying  it,  the  pupil  will  be  enabled 
readily  to  post  the  remaining  accounts.  In  order  to  guide 
the  pupil  in  this  labor,  the  accounts  of  Henry  B.  Holbrook, 
Daniel  W.  Potter,  Charles  D.  Campbell,  and  Franklin  S. 
Clark  are  given,  as  they  will  appear,  if  correctly  posted. 
If  the  remaining  accounts  are  properly  posted  by  the 
pupil,  he  will  find  the  following  amounts  necessary  in  or 
der  to  balance  them:  Sylvester  N.  Nurse, — ;  Horace  O. 
Bigelow,  $3.75;  William  Gridley,  — ;  Bcla  Dunbar,  — ; 
Charles  Harford,  — ;  James  S.  Hawkins,  — ;  Clark  N. 
Fulton,  $46.88  ;  Aaron  B.  Patterson,  $15.38  ;  Cornelius  O. 
Rnmsey,  $0.72;  Horatio  N.  Short  (Cr.),  $2.74;  Henry 
Woodward,  — ;  John  Lynd,  $6.50;  Hiram  Hawley  (Cr.), 
$31.32  ;  Andrew  C.  Mynderse,  $5.88  ;  Timothy  N.  Foster, 
$71.50;  Timothy  G.  Baldwin,  — ;  James  II.  Gillet, 
$23.50. 

NOTE. — The  dash  indicates  that  the  accounts,  after  which  it  is  placed, 
balance. 


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54  BOOK-KEEPIXG. 

PRACTICAL   EXERCISES. 

The  form  on  the  preceding  pages,  although  it  is 
designated  as  the  "  Mechanic's  Form,"  is,  nevertheless, 
well  adapted  to  the  use  of  professional  men  and  mer 
chants  ;  and  from  the  fact  that  a  majority  of  merchants,  in 
the  small  villages  throughout  the  country,  keep  their  books 
after  this  form,  we  have  thought  best  to  give  a  Memoran 
dum  of  the  business  transactions  of  a  merchant  for  three 
months,  requiring  the  pupil  to  record  them  in  the  Day- 
Book,  post  to  the  Ledger,  and  balance  the  accounts  as  in 
the  preceding.  The  price  per  ounce,  pound,  gallon,  yard 
or  piece,  is  given,  leaving  the  amount  to  be  extended  by 
the  learner  ;  and  if  the  above-described  operation  is  cor 
rectly  performed,  it  will  be  found,  on  balancing  the  books, 
that  the  following  persons  are  indebted  to  you  for  the 
sums  opposite  each  name  : — Hiram  Mann,  $39.42  ;  Milton 
Seely,  $42.71;  Albert  J.  Hovey,  $7.17;  Charles  R. 
Heeox,  $4.49  ;  William  F.  Ashley,  $9.15  ;  Ephraim  B. 
Price,  $6.43  ;  Peter  Brant,  $17.63  ;  William  Walling, 
$7.52  ;  Men  it  Thornton,  $23.03  ;  John  Messenger,  $1.71  ; 
Alpheus  Clark,  $8.81  ;  Samuel  Weaver,  $28.66 ;  John 
Hancock,  $12.63  ;  Samuel  Moore,  $17.21  ;  Xathan  Brit- 
tan,  $5.36  ;  and  you  are  indebted  to  Myron  Holmes,  $2.32. 


MEMORANDUM. 

JANUARY 

1st.  Sold  Hiram  Mann  2 1  yds.  broadcloth,  at  $3.00,  li 
yd.  silk  serge,  at  $1.50,  1  doz.  large  buttons,  at  75c.,  and 
i  uoz.  small,  do.,  at  25c.  2d.  Sold  Myron  Holmes  10  yds. 
silk,  at  $1.50,  and  5  skeins  silk,  at  4c.;  Milton  Seely,  1  cap 
for  boy,  at  $1.25,  and  1  pair  small  coarse  boots,  at  $1.50  ; 
Albert  J.  Hovey,  10  Ibs.  sugar,  at  10c.,  and  1  Ib.  tea,  at 
$1.00.  3d.  Sold  Charles  R.  Hecox  5  yds.  calico,  at  10c., 
5  Ibs.  coffee,  at  14c.,  and  1  Ib.  tea,  at  $1.00  ;  William  F. 
Ashley,  15  Ibs.  sugar,  at  10c.,  1  oz.  nutmegs,  at  12c.,  and 


BOOK-KEEPIXG.  55 

1  oz.  cloves,  at  13c.  4th.  Sold  Ephraim.  B.  Price  1  bbl. 
of  salt,  at  $1.25,  1  bbl.  water  lime,  at  $2.25,  50  Ibs. 
coarse  salt,  at  Ifc.,  and  20  Ibs.  mackerel,  at  8c.;  Peter 
Brant,  10  yds.  muslin  de  laine,  at  50c.,  15  yds.  factory,  at 
10c.,  and  5  spools  thread,  at  5c.;  William  Walling,  20  Ibs. 
sugar,  at  10c.,  10  Ibs.  coffee,  at  10c.,  and  1  Ib.  tea,  at 
$1.00.  7th.  Sold  Merrit  Thornton  3  yds.  gray  cloth,  at 
$1.00,  3  yds.  factory,  at  8c.,  and  buttons,  6c.;  Hiram  Mann, 
8  Ibs.  sugar,  at  9c.,  and  5  Ibs.  coffee,  at  14c.  9th.  Sold 
John  Messenger  cloth  and  trimmings  for  overcoat,  at 
$9.00,  6  yds.  cassimer,  at  $2.00  ;  and  he  has  paid  me  cash 
on  account,  $20.00.  10th.  Sold  Albert  J.  Hovey  10  yds. 
calico,  at  12|c.,  and  1  spool  thread,  at  5c.;  Alpheus  Clark, 
1  yd.  silk,  at  $1.25,  1  cord  and  tassel,  at  $1.00,  and  3 
skeins  silk,  4c.  llth.  Sold  Milton  Seely  1  ps.  factory,  30 
yds.,  at  lOc.  12th.  Sold  John  Messenger  50  Ibs.  sugar, 
at  10c.,  and  1  ps.  factory,  40  yds.,  at  Sc.;  and  bought  of 
him  1  firkin  butter,  at  $10.00.  14th.  Sold  Merrit  Thorn 
ton  cloth  and  trimmings  for  pants,  at  $6.00.  15th.  Sold 
William  Walling  3  yds.  S.  G.  cloth,  at  56c.  16th.  Sold 
Peter  Brant  1  Ib.  tea,  at  $1.00,  and  10  Ibs.  sugar,  at  lOc. 
17th.  Sold  William  F.  Ashley  9  yds.  bed-ticking,  at  12ic., 
and  3  spools,  at  5c.  18th.  Sold  Charles  R.  Hecox  9  yds. 
factory,  at  9c.,  9  yds.  ticking,  at  12ic.,  and  2  spools,  at  5c. 
19th.  Sold  Samuel  Weaver  4  yds.  light  green  broadcloth, 
at  $2.50,  3|  yds.  worsted  goods,  at  75c.,  and  buttons,  50c.; 
and  bought  of  him  20  Ibs.  butter,  at  15c.,  and  10  doz. 
eggs,  at  lOc.  Sold  Ephraim  B.  Price,  per  wife,  9  yds. 
muslin  de  laine,  at  25c.  21st.  Sold  Albert  J.  Hovey,  1 
pair  kid  gloves,  at  $1.00  ;  Myron  Holmes,  1  pair  kid 
gloves,  at  $1.00.  22d.  John  Messenger  has  paid  me  cash 
on  account,  $5.00.  23d.  Sold  Hiram  Mann  8  yds.  calico, 
at  12^c.,  and  1  spool,  at  5c.  Peter  Brant  has  paid  me 
cash  on  account,  $10.00.  Sold  John  Hancock  1  Ib.  tea,  at 
$1.00,  5  Ibs.  coffee,  at  12ic.,  and  10  Ibs.  sugar,  at  lOc. 
25th.  Sold  Milton  Seely  3~  yds.  cassimer,  at  $2.00,  3  yds. 
factory,  at  8c.,  and  buttons,  6c.  26th.  Sold  Samuel 
Moore,  per  Emogene,  1  pair  kid  gloves,  at  $1.00,  and  1 
pair  cotton,  at  19c.;  William  Walling,  10  yds.  calico,  at 
14c.,  15  yds.  factory,  at  IQc.;  and  bought  of  him  10  cords 
maple  wood,  at  $2.00.  29th.  Sold  Peter  Brant  15  Ibs. 
sugar,  at  lOc.,  and  5  Ibs.  coffee,  at  14c.  30th.  Sold 
Samuel  Moore  cloth  and  trimmings  for  coat,  at  $9.80,  1 
3* 


56  BOOK-KEEPING. 

pair  suspenders,  at  50c.,  and  1  pair  gloves,  at  31c.;  and  he 
has  paid  me  cash  on  account,  $25.00.  Sold  Myron  Holmes 
1  pair  buckskin  gloves,  at  $1.00,  1  pair  black  kid  do.,  at 
$1.00,  cloth  and  trimmings  for  dress  coat,  $15.00,  50  Ibs. 
sugar,  at  10c.,  20  Ibs.  coffee,  at  15c.,  5  Ibs.  tea,  at  50c.; 
and  he  has  paid  me  cash  on  account,  $25.00.  Bought  of 
him  10  super,  plows,  at  $5.00.  31st.  Sold  Nathan  Britten 
1  pair  cotton  hose,  at  25c.,  1  pair  worsted  gloves,  at 
50c.,  and  1  doz.  skeins  worsted,  at  13c. 


FEBRUAKY 


1st.  Sold  William  F.  Ashley  1  silk  pocket  handkerchief, 
at  50c.,  and  1  cravat,  at  $1.50.  4th.  Sold  Ephrairn  B. 
Price  14  yds.  shirting,  at  12c.,  2  yd^.  linen,  at  75c.,  4  yds. 
calico,  at  6c.,  and  1  doz.  spools  thread,  63c.  5th.  Sold 
Samuel  Moore  2  rolls  white  paper,  at  31c.,  and  3  brooms, 
at  18c.  6th.  Sold  Milton  Seely  1  satin  vest  pattern,  $3.25, 
1  yd.  cambric,  10c.,  1  white  do.,  13c.,  and  ^  doz.  buttons, 
at  12c.;  Samuel  Weaver,  13  yds.  shirting,  at  13c.,  2£  yds. 
Irish  linen,  at  88c.,  and  3  spools  thread,  at  5c.  7th.  Sold 
Alpheus  Clark  10  yds.  sheeting,  at  10c.;  William  Wal 
ling,  12  yds.  calico,  at  8c.,  and  5  Ibs.  batting,  at  12|c. 
8th.  Sold  Ephraim  B.  Price  vest  and  trimmings,  at  $2.25, 
1  yd.  linen,  75c.;  and  bought  of  him  bill  of  groceries, 
$15.42.  9th.  Sold  William  F.  Ashley  20  yds.  calico,  at 
12ic.  llth.  Sold  Merrit  Thornton  1  doz.  tumblers,  $1.00, 
and  8  Ibs.  refined  sugar,  at  12^0.;  Nathan  Brittan,  12  yds. 
barred  mull,  at  31c.,  and  2  pair  cotton  hose,  at  38c.  13th. 
Sold  John  Hancock  1  pair  rubbers,  at  $1.00,  1  pair  kid 
gloves,  at  $1.00,  and  1  pair  buskins,  at  $1.50.  14th.  Sold 
Hiram  Mann  1  graduated  robe,  $3.50,  1  yd.  drilling,  at 
13c.,  and  thread,  6c.  15th.  Sold  Samuel  Moore  32  yds. 
sheeting,  at  10c,,  and  4  yds.  Irish  linen,  at  $1.00.  16th. 
Sold  Albert  J.  Hovey  1  set  fine  blue  ware,  at  $3.50  ; 
Peter  Brant,  1  Ib.  tea,  at  $1.00;  and  5  Ibs.  rice,  at  5c.; 
John  Messenger,  10  yds.  muslin  de  laine,  at  25c.,  and  1 
yd.  drilling,  at  13c.  18th.  Sold  Myron  Holmes,  per  son, 
1  vest  pattern  and  trimmings,  at  $8.00.  19th.  Sold 
Charles  R.  Hecox  17  yds.  sheeting,  at  5c.,  and  20  yds. 
calico,  at  12£c.  20th.  Sold  Samuel  Moore  1  fur  hat,  at 
$4.00  ;  Milton  Seely,  per  wife,  super,  shawl,  at  $30.00  ; 
John  Hancock,  1  gal.  lamp  oil,  $1.50,  and  2  gals,  molasses, 
at  37£c.  21st.  Sold  Samuel  Weaver  2  yds.  mull  edge,  at 


BOOK-KEEPING.  57 

Sic.,  and  1  pair  gloves,  at  75c.  22d.  Sold  Merrit  Thorn 
ton  3  yds.  cassimer,  at  $2,00,  1  yd.  canvas,  at  19c.,  and  1 
pair  black  silk  gloves,  at  $1.00.  25th.  Sold  Alpheus  Clark 
10  Ibs.  mackerel,  at  8c.,  20  Ibs.  sugar,  at  10c.,  and  10  doz. 
eggs,  at  14c.  27th,  Sold  Hiram  Mann  1  ps.  sheeting,  30 
yds.,  at  10c.,  and  20  yds.  calico,  at  lOc.  28th.  Sold 
Samuel  Moore  6  yds.  alpaca,  at  60c.,  and  1  yd.  cambric, 
at  10c.;  Myron  Holmes,  9  yds.  muslin  de  laine,  at  37£c.,  2 
spools  thread,  at  5c.,  and  5  skeins  silk,  at  4c.;  William  F. 
Ashley,  1  vest  and  trimmings,  $5.00. 

MARCH 

1st.  Sold  Albert  J.  Hovey  4  Ibs.  cotton  batting,  at 
12^c.,  and  8  yds.  calico,  at  12|c.  2d.  Sold  Milton  Seely  3 
yds.  edging,  at  8c.;  E.  B.  Price,  4  Ibs.  cofiee,  at  14c.,  and 
1  Ib.  cinnamon,  at  31c.  4th.  Sold  Merrit  Thornton  2^ 
yds.  linen,  at  $1.00,  9  yds.  gingham,  at  38c.,  and  1  doz. 
spools,  63c.  6th.  Sold  John  Messenger  1  cap,  at  $1.50  ; 
Samuel  "Weaver,  1  pair  rubbers,  at  $1.75.  7th.  Sold 
Alpheus  Clark  1  gal.  lamp  oil,  at  $1.00,  and  3  Ibs.  nails,  at 
8c.  8th.  Sold  John  Hancock  3  bbls.  salt,  at  $1.00,  100 
Ibs.  sugar,  at  7^c. ;  and  he  has  paid  me  cash  on  account, 
$10.00.  Sold  Ater  Brant  2  brooms,  at  13c.,  and  3£  yds. 
flannel,  at  75c.  9th.  Sold  William  Walling  6  yds.  alpaca, 
at  50c.,  and  1  yd.  cambric,  at  lOc. ;  and  bought  of  him  10 
Ibs.  butter,  at  12ic.  llth.  Sold  Charles  R.  Hecox  1  pair 
kid  gloves,  $1.00,  1  pair  rubbers,  at  $1.50,  1  pair  buskins, 
at  $1.25  ;  and  bought  of  him  1  firkin  butter,  80  Ibs.,  at 
12ic.  12th.  Sold  Hiram  Mann  3  bbls.  salt,  at  $1.00  ; 
Merrit  Thornton,  9  yds.  calico,  at  12^c. ;  and  bought  of 
him  100  ft.  hemlock  fence  boards,  at  7^c.  Sold  Peter 
Brant  12  Ibs.  sugar,  at  lOc.  13th.  Sold  Milton  Seely,  per 
wife,  12  yds.  silk,  at  $1.25  ;  and  he  has  paid  me  cash  on 
account,  $20.00.  14th.  Sold  William  F.  Ashley  12  yds. 
calico,  $1.00  ;  Myron  Holmes,  per  wife,  1  pair  kid  bus 
kins,  at  $1.50.  15th.  Sold  Samuel  Moore  1  set  blue  ware, 
at  $3.00  ;  Samuel  Weaver,  1  set  fine  blue  tea  ware,  at 
$3.50  ;  William  Walling,  2  bed-cords,  at  25c.  16th.  Sold 
Merrit  Thornton  |  bbl.  mackerel,  at  $9.00.  18th.  Sold 
Ephraim  B.  Price  2  yds.  satinet,  at  75c.  20th.  Sold 
Peter  Brant  4  yds.  satinet,  at  $1.12,  and  2  yds.  cassimere 
at  $1.50  ;  John  Hancock,  3  linen  handkerchiefs,  at  44c., 
and  I  yd,  linen,  at  75c.  •  Samuel  Weaver,  per  wife,  1  yd. 


BOOK-KEEPING. 


Italian  silk,  at  $1.50,  1  cord  rind  tassel,  at  $1.25,  and  3 
skeins  silk,  at  4c.  21st.  Sold  Milton  Seely  1  vest  pat 
tern,  at  $1.50,  and  trimmings,  at  38c.  22d.  Sold  Albert 
J.  Hovey  9  yds.  muslin  de  laine,  at  31c.,  and  2  skeins  silk, 
at  4c.  23d.  Sold  Ephraim  B.  Price '8  yds.  gingham,  at 
50c.,  1  yd.  cambric,  at  10c.,  and  2  spools  thread,  at  5c. 
25th.  Sold  Charles  K.  Hecox  10  yds.  gingham,  at  31  c., 
and  1  spool  thread,  at  5c.;  John  Hancock,  3  linen  handker 
chiefs,  at  31c.,  and  1  yd.  linen,  at  75c. ;  Peter  Brant,  ^14 
yds.  sheeting,  at  lie.,  30  yds.  do.,  at  9c.,  2  yds.  Irish 
linen,  at  75c. ;  and  bought  of  him  15  Ibs.  butter,  at  12£c. 
26th.  Sold  William  Walling  150  Ibs.  sugar,  at  lOc.  27th. 
Sold  Samuel  Weaver  3  yds.  black  cassimer,  at  $2.00  ; 
Hiram  Mann,  cloth  and  trimmings  for  dress  coat,  $15.00  ; 
William  F.  Ashley,  2  pair  small  shoes,  at  31c.,  and  he  has 
paid  me  cash  on  account,  $5.00.  28th.  Sold  John  Mes 
senger  1  set  buttons,  at  75c.,  1  hank  thread,  at  13c,,  and  1 
pair  shoes,  at  $1.00.  29th.  Sold  Myron  Holmes  1  shawl, 
at  $10.00,  1  pair  kid  gloves,  at  $1.00,  2  yds.  mull  edging, 
at  40c.,  1  bag  clasp,  at  50c.,  and  1  yd.  silk  velvet,  at 
$3.50  ;  Samuel  Moore,  9  yds.  silk  warp  alpaca,  at  75c.,  1 
yd.  cambric,  at  10c.,  1  pair  kid  buskins,  at  $1.00,  2  linen 
handkerchiefs,  at  50c.,  1  yd.  silk,  at  $1.75,  1  cord  and 
tassel,  at  75c.  30th.  Sold  John  Messenger  1  gal.  lamp 
oil,  at  $1.50.  Albert  J.  Hovey  has  paid  me  cash  on 
account,  $5.00. 


FORM  FOR  MERCHANTS. 


THE  principal  Books  of  this  Form  are  the  Day-book  or 
Blotter,  the  Journal,  the  Ledger,  and  Cash-book. 

The  DAT-BOOK  and  the  manner  of  keeping  it  are  the 
same  as  described  in  the  second  Form,  with  these  excep 
tions  :  the  manner  and  place  of  dating  are  different,  and 
it  is  ruled  with  single  money-columns  instead  of  double. 

A  PETTY  ALPHABET  or  INDEX  to  the  Day-book  should 
also  be  kept,  in  which  all  the  names  entered  in  the  Day 
book  during  a  month  should  be  entered  and  alphabetically 
arranged. 

This  book  should  be  commenced  on  the  evening  of  the 
first  business  day  of  each  month,  by  writing  in  it  all  the 
names  that  were  entered  in  the  Day-book  during  the  day, 
together  with  the  pages  on  which  such  entries  were 
made ;  and  so  every  evening  during  the  month,  enter  in 
the  Alphabet  all  the  new  names  that  appear  in  the  Day 
book,  with  their  pages ;  and  if  a  name  appears  that  has 
already  been  entered  in  the  Alphabet,  enter  the  number  of 
the  page  on  which  it  stands  opposite  such  name.  When 
ever  the  name  occurs  more  than  once  on  the  same  page  of 
the  Day-book,  it  is  indicated  in  the  Alphabet  by  repeating 
the  number  of  the  page.  A  small  cross  (+)  placed  after 
the  figure  indicates  that  there  is  a  credit-entry  on  that 
page  in  the  Day-book. 

The  JOURNAL  is  a  book  into  which  all  the  items  of  each 
person's  account  are  transferred  from  the  Day-book,  and  so 
arranged  that  those  for  each  month  are  collected  together. 

At  the  close  of  every  month  the  Day-book  should  be 
journalized,  which  is  done  in  the  following  manner: 
Transfer  the  first  entry  of  the  month,  in  the  Day-book,  to 
the  Journal  ;  then  find  the  name  thus  transferred  in  the 
Alphabet,  and  if  that  has  been  kept  as  above  directed, 
you  wi?l  see  on  what  pages  of  the  Day-book  this  name 


60  BOOK-KEEPING. 

again  occurs  ;  then  turn  to  these  pages  in  order,  and 
transfer  to  the  Journal  all  the  items  entered  to  this  name, 
placing  them  under  the  name  already  entered  there,  with 
the  dates,  &c.,  keeping  the  debits  and  credits  by  them 
selves.  After  thus  transferring  them,  place  two  parallel 
lines  (thus  //)  opposite  each  entry  on  the  Day-book,  to 
indicate  that  they  have  been  carried  to  the  Journal.  Pro 
ceed  in  the  same  manner  with  the  next  name  in  the  Day 
book,  and  so  on  until  all  is  journalized. 

After  journalizing  the  month's  transactions,  the  books 
should  be  compared  to  see  if  the  accounts  are  correctly 
journalized  ;  and  if  found  correct,  write  in  the  Day-book, 
after  the  last  entry  for  the  month,  Examined. 

The  LEDGER  in  this  Form  is  a  book  in  which  a  whole,  or 
a  part  of  a  page,  is  appropriated  to  every  account  in  the 
Journal. 

This  book  is  ruled  like  the  Ledger  of  the  second  Form, 
but  the  lines  which  there  separate  the  space  for  the  day 
of  the  month  from  the  month  may  be  omitted . 

An  ALPHABET  or  INDEX  to  the  Ledger,  like  the  one 
described  in  the  second  Form,  is  necessary. 

At  the  close  of  the  first  month  the  Journal  should  be 
posted.  But  before  this  is  done  the  Ledger  (which  we 
will  suppose  is  new)  should  be  paged,  and  the  names  of 
all  the  persons  (including  Stock,  Cash,  and  Merchandise) 
with  whom  you  have  opened  an  account  should  be  written 
at  the  top  of  the  space  appropriated  to  such  account. 
These  names,  with  Dr.  on  the  left  and  Or.  on  the  right, 
should  be  written  in  a  bold  hand,  and  then  should  be 
alphabetically  arranged  in  the  Index,  with  the  page  of  the 
Ledger  on  which  they  are  recorded.  The  Journal  should 
next  be  page-marked,  which  is  done  as  follows  :  open  to 
the  first  account  in  it,  and  then  find  in  the  Alphabet  what 
page  of  the  Ledger  is  appropriated  to  this  account,  and 
place  the  number  of  this  page  on  the  margin  of  the  Jour- 


BOOK-KEEPIXG.  61 

nal,  opposite  such  account.  Proceed  in  the  same  manner 
until  each  account  in  the  Journal  is  page-marked. 

You  are  now  prepared  to  post  the  books.  Commence 
with  the  first  account  in  the  Journal  ;  the  figure  in  the 
margin  shows  the  page  of  the  Ledger  appropriated  to  this 
account.  Enter  on  the  Dr.  side  of  that  page  the  month  in 
the  first  space  ;  "  To  Merchandise"  in  the  wide  space,  the 
page  of  the  Journal  in  the  next,  and  the  sum  total  of  the 
debits  in  the  two  next  spaces.  Then  if  there  are  any  credits 
to  this  account  in  the  Journal,  their  sum  total  should  be  en 
tered  in  the  Ledger  on  the  Cr.  side  in  the  same  manner,  ex 
cept  in  the  wide  space  write  "  By  Cash,"  "  By  Merchan 
dise,"  or  "  By  Sundries,"  as  the  case  may  be.  Then  place  two 
parallel  oblique  lines,  one  above  and  the  other  below  the 
figure  in  the  margin,  to  indicate  that  the  account  has  been 
posted.  Proceed  in  the  same  manner  until  each  account  in 
the  Journal  for  the  month  has  been  posted.  At  the  close 
of  the  next  and  the  subsequent  months,  the  Journal 
should  be  posted  in  the  same  manner  as  above  described. 

Every  month,  immediately  after  the  Journal  has  been 
posted,  it  should  be  compared  with  the  Ledger,  to  see  if 
any  mistakes  have  been  made  in  posting  In  order  to 
facilitate  this,  it  should  be  done  by  two  persons.  One 
should  take  the  Journal,  and  commencing  with  the  first 
account  in  the  month,  give  its  title  and  the  page  of  the 
Ledger  upon  which  it  is  posted,  as  indicated  by  the  figures 
in  the  margin  of  the  Journal  ;  the  other  should  then  turn 
to  this  page  in  the  Ledger,  and  see  if  it  is  correctly 
posted,  while  the  first  reads  from  the  Journal  the  entry, 
amount,  page,  &c. 

In  comparing  the  books,  if  any  account  is  found  to  have 
been  overlooked,  it  of  course  should  be  posted  immediately. 

If  an  entry  has  been  made  on  the  wrong  side  of  an 
account  in  the  Ledger,  it  should  not  be  erased,  but  the 
same  amount  should  be  entered  on  the  opposite  side  of 


62  BOOK-KEEPING. 

this  account  "  To"  or   "  By  Error,"  and  then   the   entry 
made  as  it  should  have  been  at  first. 

If  an  entiy  has  been  posted  to  the  wrong  account,  the 
same  amount  should  be  entered  on  the  opposite  side  of 
this  account  "To"  or  "  By  Error,"  and  it  should  then  be 
posted  in  its  proper  place. 

When  either  the  Day-book,  Journal,  or  Ledger  is  writ 
ten  full,  its  place  is  supplied  by  a  new  one,  and  the  differ 
ent  books  are  usually  designated  by  the  first  letters  of  the 
alphabet :  the  first  day-book  as  Day-book  A ;  the  second, 
Day-book  B  :  the  first  journal  as  Journal  A  ;  the  second, 
Journal  B  :  the  first  ledger  as  Ledger  A  ;  the  second, 
Ledger  B  ;  the  third,  Ledger  C,  &c. 

After  writing  the  Day-book  for  the  months  of  January, 
February,  and  March,  journalizing  and  posting  it  to  the 
Ledger,  the  accounts  may  be  balanced. 

Balancing  accounts  is  placing  a  sufficient  sum  on  the 
least  side  of  an  account  to  make  it  equal  with  the  greatest, 
and  is  done  by  adding  the  Dr.  and  Cr.  columns,  subtract 
ing  the  least  from  the  greatest,  and  making  the  account 
Dr.  "To"  or  Cr.  "  By  Balance"  for  the  difference.  The 
debit  and  credit  sides  will  now  foot  alike.  Xext  draw 
single  lines  opposite  each  other  under  these  columns,  and, 
after  adding  and  placing  the  amount  under  them,  draw 
double  lines  under  the  amount,  to  signify  that  the  two 
sides  are  balanced  and  closed;  then  bring  down  the 
balance  by  making  the  account  Dr.  "To"  or  Cr.  "By 
Balance"  of  old  account.  But  if  the  Ledger  is  full,  and  you 
wish  to  transfer  the  account  to  a  new  one,  let  the  balancing 
entry  be  "  To"  or  "  By  Balance  to  Ledger  B  ;"  and  in  the 
new  Ledger,  "To"  or  "By  Balance  from  Ledger  A." 

In  the  following  set  of  books,  after  writing  the  Day 
book,  journalizing  and  by  posting  the  three  months'  trans 
actions,  the  books  may  be  balanced,  and  the  accounts 
transferred  to  a  new  Ledger. 


BOOK-KEEPING.  63 

The  same  plan  will  be  adopted  in  this  as  in  the  two  pre 
ceding  forms.  A  portion  of  the  accounts  will  be  in  the 
memoranda  form  with  explanations  on  one  page,  and  the 
memoranda,  as  they  appear  when  entered  in  the  book,  on 
the  opposite  page.  Great  care  must  be  taken  with  this 
form,  otherwise  but  little  if  any  progress  can  be  made  in 
the  second  portion  of  the  book.  Let  the  teacher  require 
the  pupil  to  be  thoroughly  acquainted  with  the  questions 
that  follow,  and  in  examining  the  books  of  the  pupil  rigidly 
enforce  the  principles  that  have  been  given. 


QUESTIONS. 

What  is  this  form  called  ?  What  are  the  principal  books  used  ?  What 
are  the  Day-book  and  manner  of  keeping  it  like  ?  In  what  does  it  dif 
fer  from  the  Day-books  of  the  preceding  forms  ?  What  is  the  Index  to 
the  Day-book  called?  For  what  is  it  used?  When  should  the  names 
entered  in  the  Day-book  be  placed  in  this  Index  ?  Describe  the  man 
ner  of  entering  these  names.  If  a  name  has  already  been  entered,  what 
do  you  do  if  it  occurs  again  ?  What  do  you  do  if  a  name  occurs  twice 
on  one  page  ?  What  indicates  a  credit  entry  ?  What  is  the  Journal  ? 
How  are  the  accounts  arranged  in  it  ?  When  should  the  Day-book  be 
journalized  ?  What  is  meant  by  journalizing  ?  Describe  the  manner 
of  journalizing.  What  do  the  parallel  lines  (||)  placed  opposite  the  Day 
book  entry  signify  ?  What  should  be  done  after  journalizing  the  ac 
counts  of  the  month  ?  If  found  correct,  what  do  you  write  in  the  Day 
book?  Where  do  you  write  it?  What  is  the  Ledger  in  this  form ?  Is 
it  like  the  Ledger  in  the  preceding  forms  ?  What  line  may  be  omitted? 
Is  an  Alphabet  necessary  to  this  Ledger  ?  When  should  the  Journal 
be  posted  ?  What  should  be  written  first  in  the  Ledger  ?  What  stylo 
of  writing  should  be  used  ?  What  should  be  placed  on  the  left  ?  What 
on  the  right?  Where  should  the  names  be  entered  next?  How  do 
you  page-mark  the  Journal?  After  these  preparations,  what  is  the 
manner  of  posting  ?  What  marks  do  you  put  in  the  Journal  to  show 
that  the  account  has  been  posted  ?  After  the  accounts  have  been  en 
tered,  what  is  to  be  done  ?  Describe  the  best  way  of  reviewing  the 
entries  ?  If  an  account  has  been  overlooked,  what  is  done  ?  Should 
you  erase  a  wrong  entry  ?  How  can  you  correct  it  ?  •  If  an  entry  has 
been  made  in  the  wrong  account,  how  can  you  correct  it  ?  How  are 


64  BOOK-KEEPING. 

the  new  Day-books,  &c.,  designated  when  a  new  set  is  used  ?  What  is 
meant  by  balancing  accounts  ?  Describe  the  method.  If  you  open  a 
new  account  in  the  same  book,  how  will  the  entry  read  ?  If  in  a  new 
book? 


DAY-BOOK,   OR  BLOTTER. 


MERCHANTS'    FORM. 


j      Tan.   3d, 


u 


anaeM-on  &C    & 

di<it     er  ^s 


-  <_/  {£6400.14, 


230 

^ 

3 


Ta 


40 


2  tfa 
30  M 


66 


Pcvn,.   6tfa.  -- 


.0$ 


.05 


0*. 

4.25 

.43 


48 

4$ 

4 


BOOK-KEEPING.  67 


MEMORANDA. 

Lyons,  Monday,  Jan.  3d,  1848.  Bought  of  Pierce  & 
Willson  merchandise  amounting  by  invoice  to  $173.  Also 
bought  of  Sanderson  &  Co.  an  invoice  of  merchandise,  $480. 
Also  bought  of  Benedict  &  Rockwell  an  invoice  of  merchan 
dise,  $227.  4th.  Sold  Joseph  M.  Demmon  230  yds.  brown 
sheeting,  at  .08,  48  yds.  red  flannel,  at  .38,  and  3  doz. 
Coat's  spool  thread,  at  .48  per  doz.  Also  sold  Moses 
Austin  17  yds.  sheeting,  at  .05,  and  20  yds.  calico,  at  .13. 
5th.  Sold  George  C.  Dean  10  yds.  muslin  de  laine,  at  .31, 
1  yd.  drilling,  .13,  and  2  doz.  buttons,  at  .15,  per  doz. 
6th.  Sold  Xathan  Brittan,  per  James,  2  gallons  lamp  oil, 
at  1.25,  and  30  Ibs.  loaf  sugar,  at  .13. 

This  memoranda  would  be  entered  as  on  the  opposite 
page.  The  method  is  the  same  as  employed  in  the  two  pre 
ceding  forms,  with  the  exception,  first,  of  the  position  of 
the  date,  it  occupying  the  centre,  and  not  the  side  of  the 
page,  and  the  day  of  the  week,  as  the  day  of  the  month 
being  expressed ;  second,  the  separate  amounts  of  the  dif 
ferent  items  in  each  account  are  placed  separately  in  the 
last  two  spaces,  and  not  the  sum  merely,  as  in  preceding 
forms.  The  method  of  entering  the  memoranda  in  Day 
book  being  so  similar  to  the  preceding  forms,  further  ex 
planation  is  deemed  unnecessary.  The  pupil  will  now 
carefully  enter  in  his  Day-book  the  following  memoranda 
in  connection  with  the  foregoing. 


68  BOOK-KEEPIXG. 


MEMORANDA. 

Thursday,  January  6th.  Sold  Rev.  Ira  Ingraham  5  yds.  black  broad 
cloth,  at  $3.50,  1  satin  vest  pattern,  $5.50,  trimmings,  $3.75,  5  Ibs. 
of  coffee,  at  $.15,  and  10  Ibs.  of  sugar,  at  $.10.  Also  sold  Miss  May 
Emmonds  3  yds.  of  linen  edging,  at  $.19.  8th.  Sold  Hugh  Jameson 
merchandise  and  rendered  bill,  $8.07.  Also  sold  John  Adams  10  yds. 
drab  fringe,  at  $.68  and  3  pieces  ribbon,  at  $.31.  10th.  Paid  Horatio 
N.  Taft's  order,  $2.38.  Sold  John  M.  Holley  3  yards  black  cassimere, 
$2.25.  Sold  Levi  S.  Fulton  20*  Ibs.  sugar,  at  $.08,  1  Ib.  tea,  $.88,  and  he 
took,  also,  in  cash  $8.00.  Sold  Abram  L.  Beaumont,  25  Ibs.  sugar,  at 
$.10.  llth.  Sold  Moses  Austin  7  yds.  alpaca,  at  $.50,  10  yds.  cambric, 
at  $.10,  3  skeins  silk,  at  $.04  and  4  sheets  of  wadding,  at  $.04.  12th. 
Sold  Samuel  Moore  9  yds.  muslin  de  laine,  at  $.44,  1  yd.  cambric,  at  $.10, 
2  yds.  drilling,  at  $.12.  Also  sold  Aaron  D.  Polhamus,  1  cravat,  $1.12. 
Also  sold  James  C.  Smith  4  yds.  green  baize,  at  $.50.  Also  sold  Levi  S. 
Fulton  1  pair  of  fine  boots,  $5.00.  Bought  of  James  Rogers  1  pair 
fine  boots,  $5.00.  14th.  Sold  George  C.  Youngs  3  yds.  black  cassimere, 
at  $1.75,  and  trimmings,  $.25.  15th.  Sold  Moses  Austin  30  yds.  sheet 
ing,  at  $.10.  17th.  Sold  James  Rogers  2  hanks  linen  thread,  at  $.13, 
and  4  pieces  galoon,  at  $.31.  Sold  Nathan  Brittan  (wife)  1  pair  kid 
gloves,  $1.00,  1  pair  inferior  kid,  $.63.  Sold  Miss  Mary  Emmonds  9 
yds.  muslin  de  laine,  at  $.31,  and  trimmings,  $.25.  She  paid  cash  on 
account,  $2.00.  Sold  John  M.  Holley  (daughter)  20  skeins  zephyr  worst 
ed  at  $.01.  Sold  Thomas  Rook  4  yds.  sheep's  gray  cloth,  at  $.63.  18th. 
Sold  Moses  Austin  10  Ibs.  cotton  yarn,  at  $.19.  Sold  George  C.  Dean 
(wife)  1  yd.  mull  edging,  $.31,  and  1  yd.  edging,  $.04.  19th.  Sold 
James  McElwain  9  yds.  muslin  de  laine,  at  $.28,  1  yd.  cambric,  $.10. 
Sold  George  C.  Youngs  |  Ib.  tea,  at  $.88,  1  gallon  molasses,  at  $.44,  1  Ib. 
pepper,  at  $.13,  and  1  Ib.  spice,  at  $.13.  Bought  of  George  C.  Youngs  2 


BOOK-KEEPING.  £9 

bushels  dried  plums,  at  $2.50.     20th.  Sold  Horatio  K  Taft  1  set  fine  blue 
tea-ware,  $3.50.    Sold  Levi  S.  Fulton  1  Ib.  tea,  $.88,  5  Ibs  rice,  at  $.05, 
1  ounce  nutmegs,  $.13.     21st.  Sold  Abram  L.  Beaumont  1  pair  rubbers, 
$1.00.     Sold  Rev.  Ira  Ingraham  1  pair  kid  gloves,  $1.00.     Sold  Moses 
Austin  10  Ibs.  of  sugar,  at  $.10,  and  5  Ibs.  rice,  at  $.05,  and  bought  of 
him  5  Ibs.  butter,  at  $.13.    Sold  Nathan  Brittan  6  yds.  merino,  at  $1.25. 
22d.  Sold  Samuel  Moore  1  yd.  figured  satin,  $3.00,  l£  yd.  twist,  at  $.04, 
£  yd.  black  cambric,  at  $.10,  1  yd.  white  cambric,  $.13,  3  skeins  silk,  at 
$.04,  1  sheet  wadding,  at  $.04,  $  doz.  buttons,  at  $.18.    24th.  Sold  John 
Adams  185  Ibs.  sugar,  at  $.10.     Sold  Hugh  Jameson  6  yds.  merino,  at 
$1.12,  5  sheets  wadding,  at  $.04,  4  skeins  silk,  at  $.04.  Sold  James  Me- 
Elwain  1  Ib.  tobacco,  $.25.    25th.  Sold  Miss  Mary  Emmonds  3  yds.  Irish 
linen,  at  $.52,  4  spools  thread,  at  $.04.    26th.  Sold  Lucius  S.  Wood  1  cra 
vat,  $.88.     Sold  Horatio  N.  Taft  3  yds.  black  cassimere,  $2.     27th.  Sold 
James  McElwain  9  yds.  ticking,  at  $.18,  6  yds.  tow  cloth,  at  $.31,  16  yds. 
calico,  at  $.08,  10  yds.  gingham,  at  $.25.     28th.  Sold  George  C.  Dean 
(wife)  10  yds.  calico,  at  $.18,  2  linen  hdkfs.,  at  $.44.    Sold  John  Adams  18 
yds.  muslin  de  laine,  at  $.18.    Sold  Samuel  Moore  1  pair  rubbers,  $.88,  2 
papers  pins,  at  $.10.    29th.  Sold  Edward  Messenger  9  yds.  ticking,  $.18, 
6  yds.  tow  cloth,  at  $.31,  11  yds.  calico,  at  $.06,  6  yds.  calico,  at  $.05,  and 
8  Ibs.  batting,  at  $.13.  Sold  Levi  S.  Fulton  10  yds.  curtain  calico,  at  $.13, 
13  yds.  calico,  at  $.06,  4  spools  thread,  at  $.05,  11  yds.  alpaca,  at  $.75,' 
and  1  Ib.  spice,  $.13.     31st.  Sold  Nathan  Brittan  3  linen  handkerchiefs, 
at  $.44,  and  2  yds.  Irish  linen,  at  $.75.    Sold  Aaron  D.  Polhamus,  32 
yds.  shirting,  at  $.12,  4  yds.  Irish  linen,  at  $.75,  and  Tdoz.  spools  thread, 
$.63.  Sold  Joseph  M.  Demmon  170  Ibs.  sugar,  at  $.10.    Abram  L.  Beau 
mont  7  yds.  flannel,  at  $.44,  and  4  yds.  flannel,  at  $.62.     Feb.  1st.  Sold 
Daniel  Chapman  4  yds.  broadcloth,  at  $6.00,  *  yd.  padding,  at  $.38,  £ 
yd.  canvas,  at  $.25,  I  yd.  silk  serge,  at  $1.13,  5  skeins  silk,  at  $.04, 
and  20  buttons,  $.64.     Sold  James  McElwain,  1  bar  soap,  $.13,  and  1 
cake  fancy  soap,  $.12.    Bought  of  Jonas  W.  Goodrich  20  Ibs.  mackerel, 
at  $.08.    Sold  Levi  S.  Fulton  20  Ibs.  mackerel,  at  $.08,  and  8  Ibs.  coffee, 
at  $.12.     2d,  Sold  Abram  L.  Beaumont  (wife)  1  shawl,  $-7.00.     3d. 


70  BOOK-KEEPING. 

Sold  Moses  Austin  1  comforter,  $.31,  and  bought  of  him  8  Ibs.  butter, 
at  $.14,  and  4  bushels  potatoes,  at  $.38.     Sold  Hugh  Jameson  5$  yds. 
flannel,  at  $.62.     4th.  Sold  Ephraim  B.  Price  4£  yds.  coating,  at  $2.00, 
£  yd.  padding,  at  $.38,  £  yd.  canvas,  at  $.25,  1  set  buttons,  $.75,  and 
1  hank  thread,  $.12.     5th.  Sold  Miss  Mary  Emmonds,  1  spool  thread, 
$.05,  and  1  thimble,  $.38.     Sold  George  C.  Dean  1  looking-glass,  $3.00, 
and  1  set  fine  blue  tea-ware,  $3.50.     7th.  Sold  John  Adams  31  yds. 
silk  warped  alpaca,  at  $.52.     Sold  James  Rogers  2  Ibs.  coffee,  at  $.13, 
10  Ibs.  sugar,  at  $.10,  and  2  gallons  molasses,  at  $.44.    Sold  James  Bash- 
ford  6  tumblers,  at  $.12,  and  20  Ibs.  refined  sugar,  at  $.14.     8th.  Sold 
Abram  L.  Beaumont  31  yds.  brown  sheeting,   at  $.10.     Sold  Daniel 
Chapman  1  pair  rubbers,  $.88,  and  1  pair  kid  gloves,  $1.00.     9th.  Sold 
Eeuben  H.  Foster  1  set  knives  and  forks,  2.00,  and  1  glass  dish,  $1.25, 
and  bought  of  him  10  bushels  potatoes,  at  $.44,  and  8  bushels  oats,  at 
$.32.     10th.  Sold  George  C.  Youngs,  J  Ib.  cinnamon,  at  $.38,  1  Ib.  gin 
ger,  $.12,  and  1  bbl.  salt,  $1.18.     Sold  Thomas  Rook  20  yds.  calico,  at 
$.06,   10  Ibs.  batting,  at  $.11,   5  Ibs.  cotton  yarn,    $.19,  and  2  spools 
thread,  at  $.05.     Sold  Samuel  Moore  (daughter)  2  yds.  mull  edging,  at 
$.40.     llth.  Sold  Aaron  D.  Polhamus  9  yds.  muslin  de  laine,  at  $.28, 
1|  yd.  cambric,  at  $.10,  and  £  yd.  jean,  at  $.16.    Sold  Edmund  Hopkins 
(wife)  1  graduated  robe,  $3.50,  1  yd.  drilling,  $.13,  thread,  $.06,  and 
bought  of  him  1  geography  and  atlas,  $1.25.     12th.  Sold  Daniel  Wat- 
rous,  1  doz.  tumblers,  $1.00,  and  8  Ibs.  refined  sugar,   at  $.14.    Sold 
George  C.  Dean  (Fellers)  -J-  ream  foolscap  paper,  $2.25.     Bought  of  Philip 
G.  Almy  merchandise  per  invoice,  $42.00.     14th.  Sold  Thomas  Ninde 
J  yd.  silk  serge,  $1.00,  and  £  yd.  silk  serge,  at  $1.12.     Sold  Ephraim 
B.  Price  vest  and  trimmings,  $2.25,  and  1  yd  linen,  $.75.     15th.  Sold 
James  Rogers  31  yds.  sheeting,  at  $.10,  2  pieces  galoon,  at  $.31,  and 
4  spools  thread,  at  $.05.     Sold  Thomas  Rook  5  Ibs.  coffee,  at  $.14,  and 
10  Ibs.  refined,  at  $.14.     16.  Sold  George  C.  Youngs,  3  yds.  flannel,  at 
$.50,  9  yds.  calico,  at  $.13,  and  4  spools  thread,  at  $.05.  Sold  Nathan 
Brittan  9  yds.  silk  warped  alpaca,  at  $.75,  and  1  yd.  drilling,  at  $.12. 
Bought  of  Moses  Austin  4  Ibs.  butter,  at  $.14.     17th.  Sold  Thomas 


BO  OK-KEEPm  G.  7 1 

Nindo  (wife)  8  yds.  calico,  at  $.15,  and  4  yds.  calico,  at  $.10.  Sold  James 
McElwain  1  Ib.  tobacco,  $.25.  Sold  Thomas  E.  Dorsey  (daughter)  1 
bag-clasp,  $.50,  and  2  linen  handkerchiefs,  at  $.44.  Sold  Reuben  II. 
Foster  30  yds.  brown  sheeting,  at  $.08,  and  1  doz.  spools  thread,  $.63. 
Levi  S.  Fulton,  cash  for  personal  expenses,  $15.00.  18th.  Sold  Edward 
Messenger  1  vest  pattern,  $1.00,  1  yd.  celecia,  $.19,  and  -J-  twilled 
goods,  $.16.  Sold  Thomas  Rook  8  Ibs.  cotton  batting,  at  $.11,  3  yds. 
calico,  at  $.10,  and  1  yd.  cambric,  $.10.  19.  Sold  Abram  L.  Beaumont 
3£  yds.  black  broadcloth,  at  $5.00,  •£  yd.  padding,  at  $.38,  £  canvas, 
at  $.25,  l-i-  yd.  twist,  at  $.04,  £  yd.  silk  serge,  at  $1.12,  5  skeins  silk,  at 
$.04,  and  1  set  buttons,  $.75.  Sold  Moses  Austin  1  Ib.  tea,  $.88,  and 
8  Ibs.  sugar,  at  $.10.  21st.  Sold  Levi  S.  Fulton  10  Ibs.  sugar,  at  $.10, 
and  4  Ibs.  coffee,  at  $.14.  Sold  Edmund  Hopkins,  10  Ibs.  sugar,  at  $.09, 
and  1  gallon  molasses,  $.44.  Sold  Horatio  1ST.  Taft  30  yds.  sheeting,  at 
$.10.  22d.  Sold  Thomas  E.  Dorsey,  3£  yds.  broad  cloth,  at  $3.75,  2 
yds.  sheeting,  at  $.11,  10  Ibs.  sugar,  at  $.10,  and  1  Ib.  tea,  $.88.  23d. 
Sold  James  Bashford  33£  Ibs.  refined  sugar,  at  $.14,  and  bought  of  him 
2  bush,  dried  plums,  at  $2.25,  and  5  bush,  dried  apples,  at  $.75.  Bought 
of  Remsen  and  Polhamus,  wire,  $.31.  Sold  Nathan  Brittan  14  Ibs. 
batting,  at  $.11,  and  16  yds.  calico,  at  $.06.  Sold  Hugh  Jameson,  £  Ib. 
tea,  at  $.88,  1  gallon  molasses,  at  $.44,  and  1  Ib.  of  ginger,  $.12.  Sold 
James  McElwain,  4  Ibs.  raisins,  at  $.15,  5  Ibs.  crushed  sugar,  at  $.14, 
and  1  oz.  nutmegs,  at  $.13.  24th.  Sold  George  C.  Dean  10  yds.  sheet 
ing,  at  $.08|,  and  20^-  yds.  sheeting,  at  $.10.  Sold  Samuel  Moore  17 
yds.  calico,  at  $.16,  10  yds.  calico,  at  $.12.  Sold  John  M.  Holley  2  galls, 
lamp  oil,  at  $1.12,  and  1  ball  wicking,  $.13.  Sold  James  Rogers  (Croal), 
merchandise  per  order,  $3.50.  25th.  Sold  Jonas  ~W.  Goodrich  1  Ib.  tea. 
$.75,  1  Ib.  pepper,  $.12,  1  Ib.  ginger,  $.12,  and  2  Ibs.  saleratus,  at  $.00. 
26th.  Sold  Edward  Messenger  6  Ibs.  cotton  yarn,  at  $.19,  and  3  spools 
thread,  at  $.05.  Sold  Reuben  H.  Foster  7  yds.  alpaca,  at  $.50,  10  yds. 
cambric,  at  $.10,  3  skeins  silk,  at  $.04,  and  4  sheets  wadding,  at  $.04. 
28th.  Sold  George  C.  Dean  16  yds.  calico,  at  $.06,  8  Ibs.  batting,  at  $.11, 
and  bought  of  him,  100  Ibs.  white  lead,  at  $.03.  Sold  Horatio  N.  Taffc  1 


72  BOOK-KEEPING. 

bbl.  salt,  $1.13.  Sold  John  M.  Holley  (wife)  1  set  knives  and  forks,  $2.25, 
and  8  yds.  flannel,  at  $.56.  29th.  Sold  Levi  S.  Fulton  2£  yds.  velvet  rib 
bon,  at  $.15,  and  1  pair  kid  gloves,  $.88.  Sold  Joseph  M.  Demmon  19 
yds.  Canton  flannel,  at  $.40,  and  33  yds.  shirting,  at  $.10£.  March 
1st.  Sold  Thomas  Rook  4  Ibs.  cotton  batting,  at  $.11,  and  7  yds.  cal 
ico,  at  $.08.  Sold  Thomas  E.  Dorsey  (daughter)  3  yds.  edging,  at  $.08. 
2d.  Sold  Edward  Messenger  1£  doz.  buttons,  at  $.50,  1  yd.  celecia,  $.18, 
£  yd.  twilled  goods,  ^at  $.18,  and  f  yd.  canvas,  at  $.25.  Sold  Moses 
Austin  4  Ibs.  coffee,  at  $.14,  and  i  Ib.  cinnamon,  at  $.38.  3d.  Sold 
Daniel  Chapman  2£  yds.  linen,  at  $1.00,  9  yds.  gingham,  at  $.38,  and 
1  doz.  spools  thread,  at  $.03.  4th.  Sold  Lucius  S.  Wood  1  pair  rub 
bers,  $.88.  Sold  James  C.  Smith  1  pair  kid  gloves,  $1.00,  3  linen  hand 
kerchiefs,  at  $.42,  and  1  linen  handkerchief,  G3.  6th.  Sold  Miss  Mary 
Emmonds  1  pair  buskins,  $1.13.  Sold  Abram  L.  Beaumont  1  pair  rub 
bers,  $1.00.  Sold  Nathan  Brittan  1  gallon  lamp  oil,  at  $1.25,  and  3  Ibs. 
nails,  at  $.06.  7th.  Sold  Moses  Austin  i  Ib.  tea,  at  $1.00,  1  bar  soap,  $.14, 
and  bought  of  him,  4J  doz.  eggs,  at  $.11.  8th.  Sold,  James  C.  Smith 
1  pr.  kid  buskins,  $1.25.  Sold  John  M.  Holley  1  yd.  silk  velvet,  $3.50, 
1  yd.  sheeting,  $.15,  f  yd.  cambric,  at  $.10, 1  doz.  buttons,  at  $.19,  and 
3  skeins  silk,  at  $.04.  9th.  Sold  Daniel  Watrous  1  Ib.  tea,  $1.00, 
and  3  doz.  eggs,  at  $.12.  Sold  Jonas  W.  Goodrich  3  yds.  cassimere,  at 
$.88,  3  yds.  sheeting,  at  $.10,  If  doz.  buttons,  at  $.04,  and  3  skeins 
silk,  at  $.04.  Sold  Hugh  Jameson  1  cap,  $.88.  10th.  Sold  Thomas 
Rook  3  Ibs.  coffee,  at  $.14,  and  1  Ib.  butter,  at  $.14.  Sold  Thomas 
Ninde  £  ream  foolscap  paper,  $2.25,  and  1  quart  ink,  $.50.  Sold  Rev. 
Ira  Ingraham  4  linen  hdkfs.,  at  $.44.  llth.  Sold  George  C.  Youngs 
£  Ib.  tea,  at  $.75,  1  Ib.  pepper,  $.12,  and  1  gallon  molasses,  $.44.  13th. 
Sold  Reuben  H.  Foster  (Samuel)  1\  yds.  cassimere,  at  $2.00,  3  yds. 
sheeting,  at  $.10,  and  buttons,  $.06.  Sold  James  Bashford  3  bbls.  salt, 
at  $1.12,  and  100  Ibs.  sugar,  at  $.08|-.  Sold  Lucius  S.  Wood,  i  yd.  linen, 
at  $.75.  14th.  Sold  Aaron  D.  Polhamus  (wife)  1  pr.  buskins,  $1.13, 
and  5  yds.  muslin  do  laine,  at  $.31.  15th.  Sold  Thomas  E.  Dorsey 
(wife)  9  yds.  calico,  at  $18,  and  bought  9  Ibs.  butter,  at  $.14.  Sold 


BOOK-KEEPING.  73 

James  McElwain  1  file,  $.10,  1  small  file,  $.09,  and  4  gross  screws,  at 
$.44.     IGth.  Sold  Horatio  N.  Taft  10  yds.  gingham,  at  $.31,  and  1  yd. 
cambric,  $.10.     Sold  Justin  W.  Burnham  (daughter)  8£  yds.  calico,  at 
$.12,  G  yds.  gingham,  at  $.34,  and  trimmings,  $.19.     17th.  Sold  Samuel 
Moore   1  gall,  molasses,  $.44,  1   gall,  lamp  oil,  $1.13,  and   1  bar  soap, 
$.12.     Bought  of  Remsen  and  Polhamus  2  boxes  glass,  at  $3.00,  and 
work  per  Bourne,  $1.50.     Sold  George  C.  Dean  (wife)  1  pr.  kid  gloves, 
$.63,  1  pr.  rubbers,  $.88.     18th.  Sold  Daniel  "Watrous  3£  yds.  black 
broad  cloth,  at  $5.00,  $  yd.  padding,  at  $.38,  £  yd.  canvas,  at  $.25,  J  yd. 
silk  serge,  at  $1.12,  5  skeins  silk,  at  $.04,  and  he  paid  me  cash,  $12.00. 
20th.  Sold  Moses  Austin^  brooms,  $.13,  and  3|  yds.  flannel,  at  $.62. 
21st.  Sold  Aaron  D.  Polhamus   6   yds.  alpaca,  at  $.50,  and  1  yd.  cam 
bric,    $.10.     22d.  Sold  Miss  Mary  Emmonds   2   linen  hdkfs,   at  $.38. 
Sold  Nathan  Brittan  9  yds.  calico,  at  $.12.     Sold  Levi  S.  Fulton  4  Ibs. 
butter,  at  $.13.    Sold  Daniel  Chapman  14  yds.  sheeting,  at  $.13,  30  yds. 
sheeting,  at  $.10,  and  2  prs.  cotton  hose,  at  $.38.     23d.  Sold  Eeuben 
H.  Foster  (wife)  12  yds.  blue  calico,  at  $.14.     Sold  Justin  "W.  Burnham 
1  pr.  gloves,  $.44.     Sold  Thomas  E.  Dorsey  3  brooms,  at  $.13,  and  1 
patent  pail,  $.31.     24th.  Sold  Horatio  N.  Taft  33  yds.  sheeting,  at  $.09. 
Sold  Thomas  Rook  12  yds.  curtain  calico,  at  $.12,  and  4  spools  thread, 
at  $.05.     Sold  James  C.  Smith  1  yd.  satin  vesting,  $3.00,  £  yd.  black 
cambric,  at  $.10,  1  yd.  white  cambric,  $.13,  1£  yd.  twist,  at  $.04,  £  yd. 
wiggan,  at  $.12,  2  sheets  wadding,  at  $.04,  4  skeins  silk,  at  $.04,  $  doz. 
buttons,  at  $.18.     25th.  Sold  Aaron  D.  Polhamus  (wife)  12  yds.  Italian 
silk,  at  $1.25.     Sold  Samuel  Moore  (daughter)  1  pr.  buskins,  $1.12. 
27th.     Sold  Thomas  Nmde  1  set  fine  blue  tea-ware,  $3.50.  Sold  John 
M.  Holley  G  yds.  flannel,  at  $.50.     28th.  Sold  Nathan  Brittan  1  pr. 
red  buskins,  $1.25.     Sold  Justin  W.  Burnham  9  Ibs.  sugar,  at  $.10,  4 
Ibs.  rice,  at  $.05,  and  2  Ibs.  coffee,  at  $.15.     Sold  Daniel  Chapman  25 
Ibs.  sugar,  at  $.08,  and  10  Ibs.  coffee,  at  $.15.     Sold  James  Rogers  32 
yds.  brown  factory,  at  $.09.     30th.  Sold  Abram  L.  Beaumont  31  yds. 
brown  sheeting,  at  $.09,  and  6  spools  thread,  at  $.05.  Sold  Joseph  M. 
Demmon  128  Ibs.  coffee,  at  $.09£.     31st.  Sold  Levi  S.  Fulton  9  yds. 


Y4  BOOK-KEEPING. 

muslin  do  laine,  at  $.31,  and  4  skeins  silk,  at  $.04.  Sold  Lucius  S. 
Wood  2  linen  hdkfe.,  at  $.44.  Sold  Horatio  N.  Taft  2  bed  cords, 
at  $.25. 


INDEX  TO   THE   DAY-BOOK. 


MERCHANTS'    FORM. 


INDEX  TO  THE  DAY-BOOK. 


NAMES. 


January.       February.         March 


tfUfuttcm,  JPat/icm 


0ean, 


tfccduc/i,  fcna* 


amewn, 


INDEX   TO   THE   DAY-BOOK— (Continued.) 


NAMES. 


January.        February. 


March. 


'•t  ^/anf/eMon  &C 

9        f          a- 

tvatn,     tamed- 


C/amue£ 


0. 


&  . 

o  JP. 


The  pupil  will  find  the  names  and  months  entered  in  this  Index ;  the 
figures  are  left  for  him  to  enter  according  to  directions. 

77 


BOOK-KEEPIXG. 


JOURNALIZING. 

As  Journalizing  is  a  process  not  yet  familiar  to  the 
student,  the  memoranda  given  on  the  preceding  pages  are 
arranged  in  journal  form  on  the  following  pages.  The 
student  must  not  merely  copy  these  entries  from  the  Text- 
hook,  as  that  would  be  a  mere  exercise  in  writing.  It  is 
expected  that  he  will  apply  the  principles  given  in  the  in 
structions  on  journalizing  in  the  first  part  of  this  form. 
After  he  has  made  the  entries  as  well  as  he  can  in  his 
Journal,  he  may  compare  it  with  the  form  given  in  the 
book  and  correct  the  error,  if  any  have  been  made.  A 
good  method  is  to  journalize  on  a  slate  or  paper,  and  then 
after  correcting,  copy  the  entries  into  the  book.  It  is  of 
great  importance  that  the  teacher  should  insist  upon  the 
pupil's  journalizing  by  the  principles,  and  on  no  account 
should  he  permit  him  to  merely  copy  from  the  text-book. 


JOURNAL. 


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INDEX    TO  THE    LEDGER, 


MERCHANTS'    FORM. 


A 

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B 

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10771 


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LEDGER. 


MERCHANTS     FORM. 


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1 


106 


BOOKKEEPING.  107 

The  pupil  will  perceive  at  once  that  the  principles  of 
posting  are  the  same  as  in  the  two  preceding  forms.     The 
accounts  are  posted  from  the  Journal,  and  as  in  accounts 
on  opposite  page :  first,  the  name  is  written,  with  Dr.  on 
the  left  hand,  and  Cr.  on  the  right;  second,  the  date,  year 
and  month  is  placed  in  first  space ;  the  article  in  the  second 
space,  the  page  of  the  Journal  in  the  third  space,  and  the 
sum,  or  amount  of  the  month's  dealings,  as  per  Journal, 
in  the  fourth  and  fifth  spaces.     The  students  will  notice 
that  the  account  of  Pierce  &  Wilson  is  balanced,  "Mar. 
To  Bal.  Ledger  B,  page  1,  $173."     This  entry  is  made  on 
the  supposition,  that  the  accounts  are  to   be  transferred 
from  this  Ledger  to  another;  this  Ledger,  as  the  first,  is 
Ledger  A,  and  the  second  would  be  called  Ledger  B.     The 
accounts  of  Pierce  &  Wilson ;  Magic,  Sanderson  &  Co. ; 
Benedict  &  Rockwell,  Joseph  M.  Demon,  Moses  Austin, 
and  George  C.  Dean  are  given  to  guide  the  pupil.     The 
others  if  properly  posted,  will  require  the  following  amounts 
to  balance  them:  Nathan  Brittan,  $31.48;  Rev.  Iralngra- 
ham,  $31.26  ;  Miss  Mary  Emmonds,  $5.65  ;  Hugh  Jameson, 
$19.20;  John  Adams,  $45.59;   Horatio  N.  Taft,  $22.68; 
John  M.  HolJey,  $23.09;  Levi  S.  Fulton,  $51.25;  Abram 
L.  Beaumont,  $42.41 ;  Samuel  Moore,  $16.42  ;  Aaron  D. 
Polhamus,  $32.16  ;  James  C.  Smith,  $9.82 ;  James  Rogers, 
$8.94;  George  C.  Youngs,  $6.84;  Thomas  Rook,  $12.45; 
James  McElwain,  14.01 ;  Lucius  S.  Wood,  $3.02  ;  Edward 
Messenger,  $9.12;    Daniel  Chapman,   $43.29;    Jonas   W. 
Goodrich,  $2.62;  Ephrairn  B.  Price,  $13.25;  James  Bash- 
ford,  $11.82  ;  Reuben  H.  Foster,  $11.14  ;  Edmund  Hopkins, 
$3.78;  Daniel  Watrous,  $9.84;   Philip  G.  Almy,  $42.00; 
Thomas  Ninde,  $7.26;  Thomas  E.  Dorsey,  $17.91;  Rem- 
sen  &  Polhamus,  $7.81  ;  Justin  W.  Burnham,  $5,09. 

The  pupil  will  balance  these  accounts,  by  making  the  en 
tries  as  in  the  examples  given  "  To  or  By  balance,  Ledger  B," 
as  the  amount  is  to  be  credited,  or  debited,  in  New  Ledger. 


108  BOOK-KEEPING. 

PRACTICAL  EXERCISES. 

MERCHANTS'  FORM. 

For  the  purpose  of  giving  a  more  practical  knowledge 
of  the  foregoing  form  of  books,  we  have  given  on  the  fol 
lowing  pages  a  Memorandum  of  the  transactions  as  they 
occurred,  for  the  months  of  April,  May,  and  June,  giving 
the  price  per  yard,  pound,  ounce,  gallon,  or  piece,  leaving 
the  amount  to  be  extended  by  the  learner. 

Before  commencing  the  Day-Book,  transfer  the  balances 
from  the  last  Ledger  to  the  new  one,  making  the  persons 
that  are  indebted  to  you  debtor  "  To  Balance  from  Ledger 
A,"  and  the  persons  to  whom  you  are  indebted  credit  "  By 
Balance  from  Ledger  A,"  placing  the  number  of  the  page 
from  whence  the  account  was  transferred  in  the  column 
appropriated  for  that  purpose,  so  that,  in  case  of  necessity, 
the  old  account  may  be  more  readily  referred  to. 

The  transactions  on  the  following  pages  may  now  be  re 
corded  in  the  blank  Day-Book  in  the  same  manner  as  in 
the  preceding  form.  After  writing  one  month,  Journalize 
and  Post  it,  according  to  the  directions  previously  given. 

If  the  balances  of  the  accounts  in  Ledger  A  are  properly 
transferred  to  Ledger  B,  and  the  transactions  on  the  follow 
ing  pages  correctly  recorded,  journalized,  and  posted,  the 
accounts  in  Ledger  B  will,  with  the  exception  of  the  ac 
count  of  Levi  S.  Fulton,  all  balance. 

The  learner  may,  if  he  chooses,  substitute  his  own  name 
for  that  of  Levi  S.  Fulton ;  and  instead  of  Lyons,  at  the 
top  of  the  page  in  the  Day-Book  and  Journal,  he  may 
insert  his  own  place  of  residence. 


MEMORANDUM. 

APRIL 


1st.  Bot.  of  Remsen  &  Polhamus  4  Ibs.  wrought  nails, 
at  16c.     Sold  Horatio  N".  Taft,  per  wife,  10  yds.  gingham, 


BOOK-KEEPING.  109 

fit  31c.     3d.  Sold  Ephraim  B.  Price  2  yds.  satinet,  at  75c.; 
Rev.  Ira  Ingraham,  per  daughter,  3  linen  handkerchiefs,  at 
44c.,  and  1  yd.  linen,  at  75c.     4th.  Sold  George  C.  Dean, 
per  wife,  8  yds.  gingham,  at  31c.,  1  yd.  cambric,  at  10c., 
and  2  spools  thread,  at  5c.     5th.  Sold  Moses  Austin  1  oz. 
nutmegs,  at  13c.,  and  3  yds.  sheeting,  at  lOc. ;  James  Mc- 
Elwain,  4  yds.  satinet,  at  $1.12,  and  2  yds.  cassimer,  at 
$1.50.     6th.  Sold  Daniel  Watrous  4  Ibs.  butter,  at  14c. ; 
Abram  L.  Beaumont,  2  pair  small  shoes,  at  56c. ;  Thomas 
E.  Dorsey,  14  yds.  sheeting,  at  lie.,  30  yds.  sheeting,  at 
9c.,  and  2    yds.  Irish  linen,  at  75c.     Bot.  of  Thomas  E. 
Dorsey  14  Ibs.  butter,  at  14c.     7th.  Sold  John  Adams  150 
Ibs.  sugar,  at  9c.     8th.  Sold  Samuel  Moore  9  yds.  flannel, 
at  50c. ;  Miss  Mary  Emmonds,  3  yds.  velvet  ribbon,  at  13c., 
and  1  pair  silk  gloves,  at  63c.,  and  she  has  paid  me  $6.67 
to  balance  her  account.     10th.  Sold  Thomas  Rook  1  set 
buttons,  at  75c.,  1  hank  thread,  at  13c.,  1  pair  buskins,  at 
$1.13,  9  yds.  calico,  at  12c.,  and  3  skeins  silk,  at  4c.     llth. 
Sold  Horatio  N.  Taft  1  looking-glass,  at  $8.00 ;   Thomas 
E.  Dorsey,  2  yds.  calico,  at  8c.,  7  Ibs.  coifee,  at  10c.,  2  Ibs. 
refined  sugar,  at  14c.,  and  1  Ib.  Young  Hyson  tea,  at  88c. 
12th.  Sold  Ephraim  B.  Price  9  yds.  calico,  at  19c.,  and  3 
yds.  calico,  at  lOc. ;  Jonas  W.  Goodrich,  3  yds.  black  cas 
simer,  at  $2.00  ;   John  M.  Holley,  per  wife,  10  yds.  calico, 
at  15c.,  2  linen  handkerchiefs,  at  40c.,  and  8  window  glass, 
at  5c.     13th.  Bot.  of  Remsen  &  Polhamus  a  bill  of  goods 
amounting  to  $13.10.     Sold  James  McElwain,  per  Newson, 
12  yds.  calico,  at  12c.     14th.  Sold  Nathan  Brittan  1  gallon 
l^mp  oil,  at  $1.25.     Bought  of  Moses  Austin  10  Ibs.  butter, 
at  14c.,  4  doz.  eggs,  at  lOc.     Sold  Levi  S.  Fulton  6  Ibs. 
butter,  at  14c. ;  Rev.  Ira  Ingraham,  per  wife,  4  yds.  ribbon, 
at  20c.,  and  4   skeins  silk,  at  4c.     15th.   Sold  Justin  W. 
Burnham  3  yds.  cambric,  at  lOc.,  and  2  yds.  green  baize, 
at  50c.;  John  Adams,  26  yds.  muslin  de  laine,  at  25c.    1 7th. 
Sold  George  C.  Dean  6  yds.  cambric,  at  lOc.,  and  3  yds. 
drilling,  at  12c.     18th.  Sold  Daniel  Watrous  2  sheets  paste 
board,  at  lOc.,  and  5  yds.  ribbon,  at  15c.;  Abram  L.  Beau 
mont,  per  wife,  3  yds.  bonnet  ribbon,  at  55c.,  and  4  skeins 
silk,  at  4c.     19th.  Sold  James  Rogers  5  Ibs.  butter,  at  14c. 
Bot.  of  James  Rogers  1  pair  gaiter  boots,  at  $2.00.     Sold 
Horatio  N".  Taft  1  pair  kid  gloves,  at  $1.00,  and  2  linen 
handkerchiefs,  at  44c.     Bot.  of  John  Adams  a  bill  of  goods 
for  L.  S.  Wood,  $3.75,     20th.  Sold  John  M.  Holley  ±  Ib. 


110  BOOK-KEEPING. 

cinnamon,  at  38c.,  5  Ibs.  raisins,  at  18c.,  and  1  oz.  nutmegs, 
at  12c.  Sold  Rev.  Ira  Ingraham  7  yds.  carpeting,  at  85c. 
21st.  Sold  George  C.  Dean  2f  yds.  cassimer,  at  $1.50,  and 
1  yd.  sheeting,  at  lOc.  Sold  Jonas  W.  Goodrich  12  yds. 
calico,  at  20c.,  and  1  hank  thread,  at  15c.  22d.  Sold  James 
McElwain  12  Ibs.  sugar,  at  9c.,  5  Ibs.  Old  Java  coffee,  at 
]5c.,  and  2  Ibs.  tea,  at  75c.  Paid  Lucius  S.  Wood,  cash, 
$25.00.  24th.  Sold  Samuel  Moore  1  set  knives  and  forks, 
at  $2.75.  Samuel  Moore  has  paid  me  cash,  on  account, 
$12.00.  Sold  Thomas  E.  Dorsey  2  gals,  molasses,  at  50c. 
Bot.  of  Thomas  E.  Dorsey  8  Ibs.  butter,  at  13c. ;  and  he 
has  paid  me  cash,  on  account,  $5.00.  Sold  Aaron  D.  Pol- 
hamus  7  Ibs.  cotton  yarn,  at  20c.,  and  11  yds.  calico,  at 
15c.  26th.  Sold  Daniel  Watrous  16  yds.  shirting,  at  12c., 
and  1^  yd.  Irish  linen,  at  75 c. ;  Abram  L.  Beaumont,  1 1 
yds.  gingham,  at  28c.,  and  2  yds.  drilling,  at  ilc.  27th. 
Sold  Nathan  Brittan  1  patent  pail,  at  31c.,  1  washtub,  at 
$1.25,  6  broams,  at  13c. ;  and  he  has  paid  me  cash,  on  ac 
count,  $8.00.  28th.  Sold  James  C.  Smith  3  yds.  black 
cassimer,  at  $2.25,  1  yd.  sheeting,  at  12c.,  and  buttons,  at 
6c.;  Reuben  H.  Foster,  1  Ib.  Young  Hyson  tea,  at  88c. 
29th.  Sold  Thomas  Rook  27  yds.  sheeting,  at  lOc.  Bot. 
of  Thomas  Rook  12  Ibs.  butter,  at  13c.,  and  4  doz.  eggs, 
at  9c.  Sold  Levi  S.  Fulton  5  Ibs.  butter,  at  13c.,  and  2 
doz.  eggs,  at  9c. ;  Horatio  N.  Taft,  9  yds.  ticking,  at  19c., 
1  hank  thread,  at  12c. ;  and  he  has  paid  me  cash,  on  ac 
count,  $10.00.  29th.  Sold  Justin  W.  Burnham  6  yds. 
merino,  at  $1.25,  8  yds.  cambric,  at  lOc.,  4  sheets  wadding, 
at  4c.,  and  4  skeins  silk,  at  4c.  Sent  Pierce  &  Wilson, 
New  York,  draft  at  sight  on  H.  Dwight,  jr.,  for  $173.00  ; 
Magie,  Sanderson,  &  Co.,  New  York,  a  draft  at  10  days' 
sight,  on  H.  Dwight,  jr.,  for  $480.00 ;  Benedict  &  Rock 
well,  New  York,  a  draft  at  sight  on  H.  Dwight,  jr.,  for 
$227.00. 

MAY 

1st.  Sold  Justin  W.  Burnham  3^  yds.  bonnet  ribbon,  at 
44c. ;  and  he  has  paid  me  cash,  to  balance  his  account, 
$16.55.  2d.  Sold  Daniel  Watrous  1  gross  screws,  at  44c.; 
John  M.  Holley,  1  pair  kid  gloves,  at  $1.00;  Thos.  Ninde, 
3i  yds.  calico,  at  15c.,  2£  yds.  do.,  at  18c.,  1  paper  pins,  at 
lOc.,  10  Ibs.  sugar,  at  lOc. ;  and  he  has  paid  me  cash,  to 
balance  his  account,  $9.34.  3d.  Sold  John  M.  Holley,  per 


BOOK-KEEPIXG.  Ill 

wife,  6  yds.  alpaca,  at  75c.,  and  1  pair  gloves,  at  44c. ;  Dan 
iel  Chapman,  2f  yds.  linen,  at  75c.,  3  yds.  flannel,  at  62c., 
and  one  pair  gloves,  at  44c. ;  Moses  Austin,  30  yds.  sheet 
ing,  at  lOc.  4th.  Sold  Remsen  &  Polhamus  3|  yds.  satinet, 
at  $1.00;  Edward  Messenger,  2^  yds.  cambric,  at  10c.,  3 
Ibs.  batting,  at  lie.,  and  1^  doz.  buttons,  at  25c.  5th. 
Sold  Thomas  E.  Dorsey  8  yds.  sheeting,  at  10c.,9  yds.  do., 
at  15c.,  li  yds.  silk,  at  $1.00,  3  yds.  ribbon,  at  25c.,  2  oz. 
indigo,  at  13c.,  and  1  whitewash  brush,  at  63c.  Edward 
Messenger  has  paid  me  cash,  to  balance  his  account,  $10.08. 
6th.  Sold  Edmund  Hopkins,  per  wife,  10  yds.  calico,  at 
15c.,  and  6  yds.  do.  at  lOc.  8th.  Sold  Reuben  H.  Foster 
17  yds.  sheeting,  at  lie. ;  Jonas  W.  Goodrich,  12  yds.  cali 
co,  at  8c.,  and  5^  Ibs.  batting,  at  12c.  9th.  Sold  Ephraim 
B.  Price  4  yds.  cambric,  at  lOc.,  and  2  yds.  drilling  at  13c. 
Bot.  of  Ephraim  B.  Price  8  Ibs.  codfish,  at  4£c.  Sold  Levi 
S.  Fulton  8  Ibs.  codfish,  at  4^c.  Paid  him  cash,  for  per 
sonal  expenses,  $14.75.  10th.  Sold  John  M.  Holley,  per 
daughter,  1  dress  handkerchief,  at  $1.25,  1  linen  handker 
chief,  at  40c.,  and  4  yds.  cambric,  at  lOc.  llth.  Sold  Sam 
uel  Moore,  per  daughter,  1  parasol,  at  $2.50,  and  1  paper 
pins,  at  lOc. ;  Horatio  N.  Taft,  1  Ib.  Young  Hyson  tea,  at 
88c.  12th.  Sold  Abram  L.  Beaumont,  per  Ellen,  1  yd. 
ribbon,  at  25c.,  5  yds.  do.,  at  8c.,  and  5  yds.  edging,  at  15c.; 
John  M.  Holley,  per  wife,  4  yds.  black  silk  edging,  at  44c.; 
Edmund  Hopkins,  4  yds.  shirting,  at  12c. ;  and  he  has  paid 
me  cash,  to  balance  his  account,  $6.36.  13th.  Sold  Thomas 
E.  Dorsey,  per  daughter,  1  China  hat,  at  $3.75;  and  bought 
of  him  8  Ibs.  butter,  at  13c.  16th.  Sold  James  McElwain 
14  Ibs.  butter,  at  13c.,  and  2  Ibs.  Young  Hyson  tea,  at  88c. 
17th.  Sold  Reuben  H.  Foster,  per  Susan,  1  parasol,  at 
$2.00;  Moses  Austin,  per  wife,  4  Ibs.  batting,  at  lie.,  1^ 
doz.  buttons,  at  25 c.,  3  yds.  ribbon,  at  15c. ;  and  bought  of 
him  16  Ibs.  butter,  at  13c.  18th.  Sold  Jonas  W.  Good 
rich,  per  Melville,  1  vest  pattern,  at  88c.,  and  trimmings, 
at  38c.  19th.  Sold  Samuel  Moore  10  Ibs.  nails,  at  6c.  ; 
James  Rogers,  per  wife,  4  yds.  toweling,  at  lOc.,  9  yds. 
shirting,  at  15c.,  3  yds.  drilling,  at  12c.,  3  spools  thread,  at 
5c.,  and  3  skeins  silk,  at  4c.  20th.  Sold  Abram  L.  Beau 
mont  1  roll  window  paper,  at  31c.,  1  roll  tape,  at  6c.,  6  yds. 
French  calico,  at  25c.,  arid  2  yds.  ribbon,  at  5c. ;  John 
Adams,  per  son,  26  yds.  gingham,  at  30c. ;  George  C. 
Dean,  10  Ibs.  cotton  yarn,  at  2 tic.  22d.  Sold  Nathan  Brit- 


112  BOOK-KEEPIXG. 

tan  1  paper  black  tea,  at  44c. ;  Levi  S.  Fulton,  9  yds.  tick 
ing,  at  15c. ;  Ephraim  B.  Price,  10  yds.  French  calico,  at 
25  c.  23d.  Sold  James  McElwain,  per  wife,  1  parasol,  at 
$2.25,  2  linen  handkerchiefs,  at  38c.,  2  pair  cotton  hose,  at 
20c.,  and  2  papers  pins,  at  lOc.  24th.  Sold  James  C. 
Smith  8  Ibs.  rice,  at  5c.,  2  Ibs.  tea,  at  88c.,  8  Ibs.  Old  Java 
coffee,  at  15c.,  and  4  Ibs.  refined  sugar,  at  14c.  25th.  Sold 
Daniel  Watrous  1  pair  kid  gloves,  at  $1.00;  Lucius  S. 
Wood,  1  pair  kid  gloves,  at  88c. ;  Levi  S.  Fulton,  2  linen 
handkerchiefs,  at  44c.  26th.  Sold  Daniel  Chapman  1  cra 
vat,  at  $1.13,  and  3  linen  handkerchiefs,  at  88c.  27th. 
Sold  Ephraim  B.  Price  6  yds.  merino,  at  $1.25,  and  7  skeins 
silk,  at  4c.  30th.  Sold  Nathan  Brittan  2f  yds.  cassimer, 
at  $2.00 ;  Joseph  M.  Demmon,  20  Ibs.  cotton  batting,  at 
9|c.  31st.  Sold  James  Rogers  8  yds.  jean,  at  16c.;  George 
C.  Dean,  6  yds.  flannel,  at  44c.,  and  2  yds.  Irish  linen,  at 
75c. 

JUNE 

1st.  Sold  Abram  L.  Beaumont  7  yds.  blue  calico,  at  12c., 
121  yds.  summer  goods,  at  23c.,  6  yds.  factory,  at  10c.,  10 
Ibs.  cotton  yarn,  at  20c.,  1£  doz.  buttons,  at  4c.,  and  1  hank 
linen  thread,  at  13c. ;  Nathan  Brittan,  2  pair  cotton  hose, 
at  38c.  2d.  Sold  Moses  Austin  2  rolls  window  paper,  at 
31c.,  and  2  palm  leaf  hats,  at  20c. ;  and  he  has  given  me 
his  note  at  30  days,  to  balance  his  account,  for  $17.61.  Sold 
John  Adams  4  bbls.  salt,  at  $1.00,  32  Ibs.  refined  sugar,  at 
13c. ;  and  he  has  paid  me  cash,  to  balance  his  account, 
$77.80.  3d,  Sold  James  Rogers  4  yds.  gimp,  at  25. ;  John 
M.  Holley,  11  yds.  lawn,  at  31c.,  1  yd.  drilling,  at  13c.,  and 
2  pair  whalebones,  at  4c.  5th.  Sold  Thomas  Rook  1  vest 
pattern,  at  75c.,  24-  yds.  cassimer,  at  $1.00,  5  yds.  lawn,  at 
20c.,  1  pair  walking  shoes,  at  $1.00,  1  bonnet,  at  $3.00,  2 
spools  thread,  at  5c.,  and  4  Ibs.  coffee,  at  lOc.  Bot.  of  him 
37£  Ibs.  butter,  at  13c.,  8  doz.  eggs,  at  lOc. ;  and  he  has 
paid  me  cash,  to  balance  his  account,  $19.55.  6th.  Bot.  of 
George  C.  Youngs  20  Ibs.  ham,  at  8|c.,  31  Ibs.  do.,  at  8c.; 
and  he  has  paid  me  cash,  to  balance  his  account,  $2.66. 
Sold  Lucius  S.  Wood  5  yds.  brown  linen,  at  31c.,  and  thread, 
at  6c.  7th.  Sold  James  Rogers  10  yds.  linen  gingham,  at 
38c.,  6  yds.  sheeting,  at  lie.,  2  yds.  edging,  at  15c.,  and  2 
skeins  silk,  at  4c.;  Ephraim  B.  Price,  per  wife,  1  parasol,  at 
$2.25.  8th.  Sold  James  McElwain  1  bar  soap,  at  16c. ; 


BOOK-KEEPING.  113 

Daniel  Watrous,  4  yds.  linen  goods,  at  31c.,  buttons,  at  6c.; 
and  he  has  paid  me  cash,  to  balance  his  account,  $17.14. 
9th.  Sold  Thomas  E.  Dorsey,  per  Juliet,  purse  twist,  75c., 
and  steel  beads,  75c. ;  George  C.  Dean,  2£  yds.  gingham, 
at  31c.  10th.  Sold  Nathan  Brittan  12  yds.  barred  mull,  at 
31c.,  2  pair  cotton  hose,  at  38c. ;  and  he  has  given  me  his 
note  at  3  months,  to  balance  his  account,  for  $38.25.  12th. 
Sold  Abram  L.  Beaumont  8  Ibs.  nails,  at  6c. ;  John  M. 
Holley,  3  yds.  edging,  at  8c.,  3  spools  thread,  at  5c.,  and  2 
skeins  silk,  at  4c.  James  Bashford  has  paid  me  cash,  to 
balance  his  acconnt,  $11.82.  13th.  Sold  Daniel  Chapman 
10  yds.  alpaca,  at  75c.,  10  J  yds.  calico,  at  7c.,  1  yd.  cam 
bric,  at  10c.,  and  1  yd.  drilling,  at  13c.  Paid  Levi  S.  Ful 
ton  cash,  for  personal  expenses,  $25.00.  14th.  Sold  James 
C.  Smith  13  yds.  shirting,  at  13c.,  2£  yds.  Irish  linen,  at 
88c.,  5£  yds.  calico,  at  7c.,  3  spools  thread,  at  5c.,  and  4 
skeins  silk,  at  4c.  George  C.  Dean  has  paid  me  cash,  to 
balance  his  account,  $27.14.  15th.  Sold  Reuben  H.  Foster 
2  gals,  molasses,  at  44c.  and  1  gal.  lamp  oil,  at  $1.00.  16th. 
James  McElwain  has  given  me  his  note  at  3  months,  to 
balance  his  account,  for  $33.61.  Sold  Aaron  D.  Polhamus 
1  yd.  satin  vesting,  at  $3.25,  1  yd.  black  cambric,  at  10c., 
1  yd.  white  do.,  at  13c.,  and  1  doz.  buttons,  at  25c.  17th. 
Sold  Thomas  E.  Dorsey  8  yds.  blue  calico,  at  13c.,  4  yds. 
sheeting,  at  8c.,  3  Ibs.  batting,  at  12c.  Bot.  of  him  18£ 
Ibs.  butter,  at  13c. ;  and  he  has  paid  me  cash,  to  balance 
his  account,  $27.24.  19th.  Reuben  H.  Foster  has  given 
me  his  note  at  3  months,  to  balance  his  account,  for  $17.77. 
Sold  Samuel  Moore  2  rolls  window  paper,  at  31c.,  3  brooms, 
at  18c. ;  and  he  has  given  me  his  note  at  30  days,  to  bal 
ance  his  account,  for  $16.03.  20th.  Sold  Ephraim  B.  Price 
14  yards,  shirting,  at  12c.,  2  yds.  linen,  at  75c.,  4  yds.  calico, 
at  6c.,  and  1  doz.  spools  thread,  at  63c.  21st.  Sold  Abram 
L.  Beaumont  11  yds.  Oregon  plaid,  at  31c.,  1  yd.  drilling, 
at  13c.,  ^  yd.  cambric,  at  10c.,  1  spool  thread,  at  5c. ;  and 
he  has  given  me  his  note  at  60  days,  to  balance  his  account, 
for  $6 2". 6 3.  22 d.  Daniel  Chapman  has  paid  me  cash,  to 
balance  his  account,  $59.62.  Sold  Jonas  TV".  Goodrich  9 
yds.  gingham,  at  28c.,  trimmings,  at  31c, ;  and  he  has  paid 
me  cash,  to  balance  his  account,  $16.88.  23d.  John  M. 
Holley  has  given  me  his  note  at  6  months,  to  balance  his 
account,  for  $40.74.  Sold  Rev.  Ira  Ingraham  4  pair  cotton 
hose,  at  40c. ;  and  he  has  paid  me  cash,  to  balance  his  ac- 


114  BOOK-KEEPING. 

count,  $41.84.  24th.  Sold  Hugh  Jameson  3  yds.  satinet, 
at  75c.  27th.  Credited  Aaron  33.  Polhamus  for  the  balance 
of  his  account,  charged  to  Kemsen  &  Polhamus,  $38.82  ; 
and  charged  Remsen  &  Polhamus  for  the  balance  of  A.  D. 
Polhamus'  account,  $38.82.  Remsen  &  Polhamus  have 
paid  me  cash,  to  balance  their  account,  $20.77,  28th.  Sold 
James  C.  Smith  30  yds.  sheeting,  at  lOc. ;  and  he  has  given 
me  his  note  at  3  months,  to  balance  his  account,  $28.26. 
29th.  Hugh  Jameson  has  paid  me  cash,  to  balance  his  ac 
count,  $21.45.  Sold  Horatio  N.  Taft  3  yds.  black  cassimer, 
at  $2.00,  2i  yds.  sheeting,  at  10c.,  1  spool  thread,  at  5c. ; 
and  he  has  given  me  his  note  at  60  days,  to  balance  his 
account,  for  $34.67.  30th.  Sold  Ephraim  B.  Price  18  yds. 
brown  factory,  at  lOc. ;  and  he  has  given  me  his  note  at 
4  months,  to  balance  his  account,  for  $35.44.  Credited 
Lucius  S.  Wood  for  6  months'  services  as  clerk,  at  $20.00. 
Paid  him,  cash,  $35.74,  and  given  my  note  at  4  months,  to 
balance  his  account,  for  $50.00.  Gave  Philip  G.  Almy  my 
note  at  30  days,  to  balance  his  account,  for  $42.00.  James 
Rogers  has  paid  me  cash,  to  balance  his  account,  $17.14. 
Joseph  M.  Demmon  has  paid  me  cash,  to  balance  his  ac 
count,  $80.21. 


CASH-BOOK. 


116  BOOK-KEEPING. 

/ 

PETTY  CASH-BOOK. 

This  book  is  intended  for  the  cash  account,  so  that  by 
referring  to  it  we  may  at  any  time  ascertain  the  amount 
of  cash  on  hand,  and,  furthermore,  by  comparing  the 
amount,  as  represented  by  the  book,  with  the  amount  act 
ually  on  hand,  we  may  detect  any  erro»  in  expenditure. 

This  book  should  be  ruled  like  the  Journal,  as  in  the 
form  on  the  following  pages.  The  word  Cash  should  be 
written  in  a  bold  hand  at  the  top  of  the  page,  near  the 
centre,  with  Dr.  over  the  left-hand  money  columns,  and 
Cr.  over  the  right. 

The  receipts  of  cash  should  be  entered  in  the  debit  col 
umns,  and  the  disbursements  in  the  credit  columns,  and  bal 
anced  every  night.  For  example,  see  the  opposite  page. 

This  book  may  be  written  on  the  last  three  or  four 
pages  of  the  Journal. 

In  order  fully  to  illustrate  this  account,  I  have  given  a 
memoranda  of  cash  receipts  and  expenditures  for  January. 
In  order  to  make  the  method  perfectly  plain  to  the  pupil, 
I  have  given  on  the  opposite  page  the  form  of  entry,  as 
far  as  Jan'y  7th.  The  pupil  will,  after  carefully  studying 
the  explanation,  enter  the  following  memoranda. 

MEMORANDA. 

Jan.  3d.  Invested  in  business,  $2,000 ;  paid  expenses  to 
New  York,  $37;  bought  merchandise,  $1,805;  paid  freight 
on  merchandise,  $124.  Bought  wood  of  Westfall,  $8.00; 
paid  postage,  .37c. ;  received  for  merchandise  sold  this 
day,  $5.84.  5th.  Paid  for  sundries,  $1.57;  paid  for  saw 
ing  wood,  $3.00;  paid  for  cartage,  $1.75;  received  for 
sales  this  day,  $4.92.  6th.  Paid  for  advertising  in  West 
ern  Whig,  $3  ;  paid  for  advertising  in  Wayne  Co.  Herald, 
$3.50  ;  paid  for  postage,  .25c. ;  received  for  sales  of  mer 
chandise  this  day,  $10.27. 


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118  BOOK-KEEPING. 

7th.  Paid  for  blank  book,  $2.75  ;  paid  for  merchandise, 
$5!86 ;  paid  postage,  30c.  Received  from  sales  of  merchan 
dise  this  day,  $12.18.  8th.  Paid  for  merchandise,  $4,74; 
paid  express  charges,  $1.25 ;  paid  for  personal  expenses, 
$2,00  ;  paid  postage,  20c.  Received  for  merchandise  sold 
this  day,  $11.74. 

January  10th.  Paid  for  personal  expenses,  $8.00  ;  a  blank 
book,  75c. ;  errand  boy,  6c. ;  postage,  15c.  Received  for 
merchandise  sales  this  day,  $15.74.  llth.  Paid  for  1  gal. 
of  camphine,  56c. ;  parallel  rule,  50c. ;  merchandise  bought 
of  a  peddler,  $7.50.  Received  for  merchandise  sold  this 
day,  $9,63.  12th.  Paid  for  postage,  25c.;  1  gross  Gil- 
lott's  pens,  $1.25  ;  merchandise  bought  at  Rochester, 
$25.00.  Received  for  merchandise  sold  this  day,  $14.55. 
13th.  Paid  for  a  bottle  of  red  ink,  13c. ;  hand-bills,  $2.00. 
Received  for  merchandise  sales  this  day,  $12.64.  14th. 
Paid  for  repairing  blinds,  $2.50 ;  wrapping  paper,  $3.00 ; 
postage,  lOc. ;  envelopes,  12c. ;  wafers,  lOc.  Received  for 
merchandise  sold  this  day,  $10.13.  15th.  Paid  for  express 
charges,  $1.50;  postage,  15c.  Received  for  merchandise 
sold  this  day,  $7.96.  17th.  Paid  for  cartage,  25c. ;  for 
hardware  bought  of  J.  M.  French  &  Co.,  $17.50  ;  postage, 
20c.  Received  of  Miss  Mary  Emmonds,  on  account,  $2.00. 
Merchandise  sold  this  day,  $16.74.  18th.  Paid  for  post 
age,  5c. ;  bill  paper,  75c.  Received  for  merchandise  sold 
this  day,  $8.63.  19th.  Paid  for  the  use  of  a  horse  and 
buggy  to  Canandaigua,  $1.50;  expenses,  75c.  Received 
for  merchandise  sold  this  day,  $11.92.  20th.  Paid  for  one 
cord  of  wood,  $2.25;  postage,  20c. ;  errand  boy,  6c.;  cart 
age,  25c.  Received  for  merchandise  sold  this  day,  $17.04. 
21st.  Paid  for  advertising  in  the  "Whig,"  $1.00;  sawing 
wood,  75c. ;  postage,  5c. ;  a  lot  of  bed  cords,  $5.00.  Re 
ceived  for  merchandise  sold  this  day,  $6.34.  22d.  Paid 
for  camphene  lamp  wicks,  31c. ;  postage,  15c. ;  ^  ream  of 
letter  paper,  $2.00.  Received  for  merchandise  sold  this 
day,  $13,57.  24th.  Paid  for  one  gallon  of  camphene,  56c.; 
postage,  25c.;  ink-stand,  50c. ;  cartage,  25c.  Received  for 
merchandise  sold  this  day,  $15.32.  25th.  Paid  for  1,000 
business  cards,  $3.00;  one  ream  foolscap  paper,  $3.50; 
one  doz.  pass-books,  $1.00.  Received  for  merchandise  sold 
this  day,  $9.44.  26th.  Paid  for  making  store  shelves,  $2.50; 
postage,  5c.  Received  for  merchandise  sold  this  day, 
$11.88.  27th.  Paid  for  a  camphene  lamp,  4.00;  express 


BOOK-KEKPIXG.  1  1  9 

charges,  50c.  ;  merchandise,  $14.13;  cartage,  25c  Re 
ceived  for  merchandise  sold  this  day,  $14.23.  28th  Paid 
ior  postage  1  5c  ;  a  tin  wash  dish,  3  1  c.  Received  for  mer 
chandise  sold  this  day,  $8.49.  29th.  Paid  for  two  doz 
whips,  $15.00  ;  a  new  stove  for  the  store,  $4.50  ;  fixing  the 
pipe,  50c.  Received  for  merchandise  sold  this  day,  $15  94 
31st.  Paid  for  store  rent,  $25.00;  postage,  10c.;  four  doz' 
brooms  $8.00;  cartage,  25c.  ;  errand  boy,  6c.  Received 
for  merchandise  sold  this  day,  $18  63 

tfora—It  is  often  difficult  to  make  pupils  understand 
the  propriety  of  making  Cash  debit  when  it  is  received, 
and  credit  when  it  is  paid  away.  This  difficulty  may  be 
obviated  by  explaining  to  them  the  original  meaning  of 
the  word  Cash.  The  word  originally  signified  Chest,  or 
a  place  where  money  was  kept,  instead  of  money  itself. 
NW,  if  I  placed  all  the  money  I  received  in  a  certain  box, 
I  could  at  any  time  tell  by  my  books  how  much  there  was 

Cr  for     ll1^6  ^  b°X  Dr'  f°r  a11  SUms  Put  int°  K*  and 
Ci.  for  all  sums  taken  out.     Just  so  with  Cash.     When- 


n  some 


thiri'  >  an     cag 

this  place  Cash,  make  it  Dr.  for  the  amount  placed  there^ 

the  same  as  I  would  a  person,  if  I  placed  the  money  in  his 
nS         Saeng-     AndS°'  WheneVGr  l  take  ™    an 


monov  r         T' 

money  from  the  place  where  I  keep  it,  and  pay  it 

gve  Cash  credit  for  it  The  differince,  thenP,  Lethe 
JJr.  and  Cr.  sides  of  the  Cash  account  thus  kept  shows 
how  much  money  I  have  on  hand.  On  tke  next  pLe  .  will 


e    -     ,- 

Dr  anfVP5t  •        Vlded  Jf  °  two  e(*ual  Par^s'  and  the 
Ur.  and  Cr.  entries  separated,  and  each  placed  J-i  its  in 

propnate  side  of  the  account',  it  is  balanced  ever?  ±h?," 
and  the  balance  brought  down.     The  leader  may  p,v  lice 
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BOOK-KEEPING. 


121 


ACCOUNT  SALES. 

An  Account  Sales  is  a  statement  of  goods  sold  on  com 
mission,  drawn  up  by  the  agent  to  whom  they  were  con 
signed,  to  be  transmitted  to  the  person  who  made  the 
consignment.  For  example,  a  person  in  New  York  hav 
ing  a  quantity  of  goods  to  dispose  of,  sends  them  to  a  per 
son  in  a  section  of  the  country  where  they  are  likely  to 
find  ready  sale.  The  one  to  whom  they  are  sent  is  called 
the  agent;  the  goods,  the  consignment;  and  the  amount 
received  by  the  agent  for  selling,  the  commission. 


Account 


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BOOK-KEEPING.  123 


BILLS  RECEIVABLE. 

All  written  obligations  for  the  payment  of  money, 
which  you  hold  against  other  individuals,  are  called  Bills 
Receivable,  and  should  be  entered  in  the  Bill-book  when 
taken.  By  referring  to  this  book  the  time  that  notes  be 
come  due  can  be  ascertained  without  referring  to,  or  ex 
amining  your  package  of  notes.  Notes  received  are 
usually  labelled  and  put  away  in  a  safe  place,  so  that  con 
stant  reference  to  them  would  be  inconvenient ;  hence 
the  utility  of  this  book.  When  the  business  is  so  large  as 
to  involve  many  notes,  they  are  usually  arranged,  so  that 
notes  falling  due  in  the  same  month  are  in  one  package — 
the  notes  of  each  month  forming  a  separate  package.  The 
page  of  the  book  should  be  divided  into  twelve  spaces,  as 
on  the  opposite  page.  Each  space  should  then  be  labelled  as 
011  opposite  page.  The  first  note  received  was  that  of 
Moses  Austin,  dated  June  2,  1848,  for  $17.61,  for  30  days. 
It  being  the  first  note,  we  place  its  number  (1)  in  first 
space,  the  name  of  maker  in  the  second,  the  one  to  whom 
it  is  payable  in  third,  the  amount  in  fourth  and  fifth,  the 
date  of  note  in  sixth  and  seventh,  the  time  it  has  to  run  in 
eighth;  then,  computing  30  days  from  June  2d,  and  adding 
in  the  usual  three  days  of  grace,  we  find  it  becomes  due 
on  July  5th,  and  so  enter  that  date  in  ninth  and  tenth 
spaces.  If  it  had  been  made  payable  at  any  particular 
place,  we  would  have  put  the  name  of  that  place  in  the 
eleventh  space,  and  any  particulars  as  to  payment,  &c., 
in  the  twelfth  space.  The  other  notes  were  entered  in 
same  way. 


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BANK-BOOK. 

This  is  a  book  usually  given  by  banks  to  persons  depos 
iting  money  with  them.  On  the  Dr.  side  is  entered  all 
sums  deposited,  with  the  date  and  name  of  the  individual 
by  whom  deposited :  this  is  done  by  the  receiving  clerk. 

126 


in  ale 


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At  the  close  of  the  month,  the  amount  drawn  out  should 
be  placed  on  the  Cr.  side,  and  the  book  balanced. 

The  sum  total  of  the  deposits  for  the  month  should  be 
transferred  to  the  Dr.,  and  the  amount  checked  out  during 
the  month  to  the  Cr.  side  of  the  bank  account  in  the 
Ledger. 

6*  127 


I 


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V 


128 


BOOK-KEEPISTG.  129 


BILL  OF  PURCHASE 

Is  a  statement  of  goods  bought  at  one  time,  containing 
the  items  and  prices.  If  paid  at  the  time,  it  should  be  re 
ceipted  and  signed,  as  in  the  form  on  the  opposite  page ; 
but  if  charged,  in  the  place  of  Received  Payment,  write 
Charged  in  Account. 

Bills  of  Purchase,  or  more  properly  Invoices,  should  be 
carefully  examined,  folded  of  a  uniform  width,  and  filed 
away;  and  as  merchants  generally  purchase  goods  peri 
odically,  the  date  of  purchase  may  be  written  on  the  band 
enclosing  them.  On  the  first  day  of  January  in  each  year, 
or  at  the  time  of  balancing  the  books,  the  Invoices  for  the 
past  year  should  be  put  into  one  package,  and  the  year  in 
which  the  purchases  were  made  written  on  the  band  en 
closing  them. 

All  orders  should  be  filed  away  in  monthly  packages, 
with  the  month  written  on  the  band  enclosing  them,  so 
that  when  settling  with  an  individual  whom  you  have 
charged  with  goods  per  order,  if  he  dispute  your  book 
you  can  immediately  refer  to  the  order. 

Care  should  be  taken  to  have  all  papers,  intended  to  be 
filed  away,  folded  of  a  uniform  width,  for  the  simple  rea 
son  that  they  thus  form  neater  packages. 


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BOOK-KEEPING. 


BILL  OF  ACCOUNT 

,m  ™\Sta'emeDt  of  «•  ^dividual  account,  copied 
from  the  Day-book,  containing   a  list  of  the  items    the 

^Cha-     »  i.  somedm 
and  sent  to  the  customer,  and 


GENERAL   QUESTIONS 


book?    What  is  it,  use?    W  hat  is  the 

" 


»" 

the  6econd,  to  »     wt  are  I  ni     P"'™,  """^  ?    Name 

able."  "IS  F^UeJ    Descri^  the  "Bill 


Payable.book"  S     ^eJ    Descri^  the  "Bills 


a 
tered?    Why  is  this  book  used'    -I™.  'S  th'  amount  dra™  out  en- 

is  it  drawn  off  ?    Whatf3itfor?^f;3.anACCOmtCurrent?    ™>en 
is  the  person  called  to  whom  L        ,        "  ™  ACC°mt  Sale8  ? 


Sales,  its  ruling,  ento.  ,  ^        ^»  -  Account 

what  should  be  done?  Y  the  aooTj!  1  L  p-"-ehase?  If  paid, 
What  are  "Bills  of  P,rchase.'  m  g  '  ^  Sh°Uldbe  done? 

done  with  these"  Thafus  ^TFT'**'  That  shouM  "e 
fonn  neat  packages  rf  a^  "££  ^±of  the,m?  H-  -n  you 
Beat?  Are  neatness  and  precis  on  ^ 

^actions? 


PART   SECOND. 
DOUBLE  ENTRY  BOOK-KEEPING. 

DOUBLE   ENTRY. 

THIS  term  is  derived  from  the  fact  that  every  business 
transaction  recorded  in  the  Day-Book  is  entered  twice  in  the 
Ledger — once  on  the  debtor  and  once  on  the  creditor  side. 

DEBTOR   AND   CREDITOR. 

These  terms  are  correlative,  the  one  implies  and  involves 
the  other.  Wherever  there  is  a  debtor  there  must  neces 
sarily  be  a  creditor  of  an  equal  amount ;  and  wherever 
there  is  a  creditor  there  must  be  a  debtor,  &c. 

APPLICATION   OP    DEBTOR    AND    CREDITOR. 

In  single  entry  these  terms  are  (with  the  exception  of 
cash)  only  applied  to  persons,  but  in  double  entry  they  are 
applied  alike  to  persons  and  property,  the  persons  being 
made  debtor  for  what  you  have  trusted  them,  and  creditor 
for  what  they  have  paid  or  trusted  you ;  and  the  property 
accounts  being  made  debtor  for  the  value  or  cost  of  the 
property,  and  credit  for  what  it  produces  when  disposed  of. 

CLASSES    OF   ACCOUNTS. 

There  are  three  classes  of  accounts  in  Book-keeping, 
styled  Personal,  Real,  and  Fictitious.  Personal  accounts 
are  the  accounts  of  the  persons  with  whom  the  merchant 
deals ;  Real  accounts  are  the  accounts  of  his  property,  and 
Fictitious  accounts  are  titles  invented  to  represent  the  mer 
chant  and  his  gains  or  losses  in  business. 


134  DEFINITION    OF   BOOKS. 

BOOKS    USED. 

The  principal  books  used  are  the  Day-book,  Journal, 
and  Ledger.  The  auxiliary  books  vary  according  to  the 
nature  of  the  business,  and  are  the  Cash-book,  Bill-book, 
Invoice-book,  Sales-book,  Account-current  book,  Book  of 
Shipments,  Letter-book,  Receipt-book,  &c.,  &c. 


DEFINITION   OF  BOOKS. 

DAY-BOOK. 

This  book  should  contain  a  concise  and  comprehensive 
history  of  the  merchant's  business  transactions  ;  commenc 
ing  with  an  inventory  of  his  effects,  and  the  debts  due  him, 
also  of  the  debts  due  by  him  to  others.  After  this,  his 
business  transactions  should  be  recorded  at  the  time  and 
in  the  order  in  which  they  occur ;  they  should  contain  the 
date,  the  name  of  the  person,  the  condition  of  the  bargain, 
and  price  of  the  goods.  In  writing  this  book  every  thing 
should  be  clearly  expressed  in  as  uniform  a  style  as  pos 
sible,  and  the  use  of  ambiguous  words  and  phrases  carefully 
avoided. 

JOURNAL. 

This  is  a  book  in  which  the  business  transactions  recorded 
in  the  Day-book  are  prepared  to  be  entered  in  the  Ledger, 
by  ascertaining  the  proper  debits  and  credits  of  each  trans 
action.  This  process  is  called  journalizing. 

LEDGER. 

This  is  a  book  in  which  a  page,  or  portion  of  one,  is  al 
lowed  for  every  account  found  in  the  Journal,  with  the 
name  of  the  account  written  over  the  space  so  appropriated, 
to  which  the  accounts  are  transferred  from  the  Journal  and 
placed  under  their  respective  heads,  This  process  is  called 
posting. 


AUXILIARY    BOOKS.  135 

ALPHABET    OR   INDEX. 

In  order  that  the  accounts  in  the  Ledger  may  be  more 
conveniently  referred  to,  an  alphabet  or  index  is  made  by 
arranging  the  names  of  the  accounts  alphabetically,  and 
placing  opposite  the  name  the  number  of  the  page  on  which 
the  account  may  be  found  in  the  Ledger. 


AUXILIARY   BOOKS. 

A  merchant's  account  may  all  be  kept  in  the  Day-Book, 
Journal,  and  Ledger ;  but  in  most  kinds  of  business,  for 
the  sake  of  abridging  these  books,  it  is  found  convenient  to 
have  other  books.  These  vary  in  number  according  to  the 
nature  of  the  business,  and  are  termed  auxiliary  books,  and 
are  as  follows  : 

CASH-BOOK. — For  definition  and  manner  of  keeping  this 
book,  see  pages  118  and  119. 

BILL-BOOK. — For  definition,  &c.,  see  page  124. 

BANK-BOOK. — For  definition,  &c.,  see  pages  126  and  127. 

ACCOUNT-CURRENT  BOOK. — For  definition  of  Account- 
Current,  see  page  125.  The  Account- current  book  con 
tains  simply  copies  of  these  accounts. 

ACCOUNT-SALES  BOOK. — For  definition  of  Account-Sales 
see  page  121.  The  Account-sales  book  contains  copies  of 
these  accounts. 

SALES-BOOK. — This  is  a  book  in  which  all  sales  of  goods 
are  entered  at  the  time  they  are  sold.  After  a  purchaser 
has  made  his  selection  of  goods  they  should  be  entered  in 
this  book,  from  which  his  bill  is  copied.  His  name  and  the 
sum  total  of  the  sale  are  transferred  to  the  Day-book. 

^  INVOICE-BOOK. — This  is  a  book  in  which  are  copied  all 
bills  of  goods  purchased.  It  is  sometimes  made  of  coarse 
paper  and  the  original  invoices  pasted  into  it 

LETTER-BOOK. — This  book  contains  copies  of  all  business- 
letters. 


136  DEFINITION   AND    OBJECT    OF   ACCOUNTS. 

DEFINITION   AND   OBJECT   OF  ACCOUNTS. 

FICTITIOUS    ACCOUNTS. 

STOCK  ACCOUNT  represents  the  merchant,  and  is  made 
Dr.  for  what  he  owes  when  he  commences  business,  and 
Cr.  for  what  he  carries  into  business.  The  difference  be 
tween  the  Dr.  and  Cr.  of  this  account  is  his  net  capital. 

PROFIT  AND  Loss  ACCOUNT  is  kept  to  show  the  gain  or 
loss  arising  from  business,  and  is  made  Dr.  for  all  losses 
and  Cr.  for  all  gains.  The  difference  between  the  Dr.  and 
Cr.  is  the  net  gain. 

INTEREST  ACCOUNT  is  kept  to  show  the  gain  or  loss  on 
interest.  It  is  made  Dr.  for  all  sums  paid  for  interest,  and 
Cr.  for  all  sums  received  for  interest.  The  difference  be 
tween  the  Dr.  and  Cr.  shows  the  gain  or  loss  on  interest. 

EXPENSE  ACCOUNT  is  kept  to  show  how  much  has  been 
paid  for  store  expenses,  such  as  clerk  hire,  store  rent,  freight, 
cartage,  porterage,  postage,  &c.  For  all  such  expenses, 
this  account  is  made  Dr. ;  the  Cr.  side  contains  nothing 
until  the  Books. are  balanced. 

REAL   ACCOUNTS. 

MERCHANDISE  ACCOUNT.  This  account  is  kept  to  show 
the  gain  or  loss  on  goods  bought  and  sold.  It  is  made  Dr. 
for  the  value  of  Merchandise  on  hand  commencing  business, 
and  for  the  amount  of  all  subsequent  purchases ;  and  Cr.  for 
the  amount  of  all  sales.  If  the  Merchandise  is  all  sold,  the 
difference  between  the  Dr.  and  Cr.  will  be  the  gain  or  loss 
on  Merchandise.  If  the  goods  are  not  all  sold,  the  value 
of  the  balance  remaining  unsold  should  be  placed  on  the 
Cr.  side,  and  the  difference  will  then  be  the  gain  or  loss. 

REAL  ESTATE  ACCOUNT  is  kept  to  show  the  gain  or  loss 
on  real  estate.  It  is  made  Dr.  for  its  cost — as  purchase- 
money,  repairs,  taxes,  &c.,  and  Cr.  for  what  it  produces, 
either  in  rent  or  sales.  If  it  is  not  all  sold,  the  value  of 
what  remains  unsold  should  be  placed  on  the  Cr.  side  of 
the  account.  The  difference  between  the  Dr.  and  Cr.  will 
be  the  gain  or  loss  on  real  estate. 


DEFINITION   AND    OBJECT    OF   ACCOUNTS.  137 

SHIPMENT  OR  CONSIGNMENT  ACCOUNT  is  kept  to  show  the 
gain  or  loss  on  property  consigned  by  the  merchant  to  some 
person  to  sell  on  his  account  and  risk.  It  is  made  Dr.  for 
what  the  consignment  costs  him,  that  is,  the  value  of  the 
goods,  freight,  insurance,  &c.,  and  is  made  Cr.  for  the  net 
proceeds  of  the  sales.  The  difference  between  the  Dr.  and 
Cr.  of  this  account  is  the  gain  or  loss. 

JAMES  HOLMES,  CONSIGNMENT  ACCOUNT,  is  kept  when 

foods  are  consigned  by  him  to  the  merchant  to  be  sold  on 
is  account  and  risk.  It  is  made  Dr.  for  all  expenses  you 
incur  on  account  of  the  consignment,  and  Cr.  for  the 
amount  of  all  sales.  The  difference  between  the  Dr.  and  Cr. 
of  this  account  is  the  net  proceeds,  and  should  be  placed  to 
the  Cr.  of  Holmes'  personal  account. 

WHEAT  ACCOUNT  is  kept  to  show  the  gain  or  loss  on 
wheat  as  a  separate  branch  of  business.  It  is  made  Dr.  for 
all  sums  paid  for  wheat,  and  Cr.  for  all  sums  received  for 
wheat.  The  Dr.  side  of  this  account  showing  the  cost  and 
the  Cr.  side  what  it  has  sold  for,  the  difference  between  the 
two  sides  will  of  course  show  the  gain  or  loss  on  wheat. 

CASH  ACCOUNT  is  kept  to  show  the  receipts  and  disburse 
ments  of  cash.  It  is  made  Dr.  for  all  receipts  of  cash,  and 
Cr.  for  all  disbursements.  The  difference  between  the  Dr. 
and  Cr.  of  this  account  is  the  amount  of  cash  on  hand. 

BANK  ACCOUNT  is  kept  to  show  what  money  is  deposited 
in  the  bank.  It  is  made  Dr.  for  all  sums  deposited,  and  Cr. 
for  all  sums  drawn  out.  The  difference  between  the  Dr.  and 
Cr.  of  this  account  is  the  sum  you  have  remaining  in  the 
bank. 

BILLS  RECEIVABLE  ACCOUNT  is  kept  to  show  the  amount 
of  written  obligations  which  you  hold  against  other  persons 
for  the  payment  of  money.  It  is  made  Dr.  for  all  such  bills 
when  they  are  received,  and  Cr.  for  all  that  have  been  re 
deemed.  The  difference  between  the  Dr.  and  Cr.  of  this 
account  shows  the  amount  of  Bills  you  hold  against  other 
persons. 

BILLS  PAYABLE  ACCOUNT  is  kept  to  show  the  amount  of 
written  obligations  given  for  the  payment  of  money  that 
have  not  been  redeemed.  It  is  made  Dr.  for  the  amount  of 
all  such  bills  when  they  are  redeemed,  and  Cr.  when  they 
are  given.  The  difference  bet  ween  the  Dr.  and  Cr.  of  this 
account  is  the  amount  of  your  Bills  that  remain  unpaid, 


138  DIRECTIONS   FOE   JO  HEIST  ALIZING. 


DIRECTIONS   FOR  JOURNALIZING. 

JOUEXALIZIXG  is  ascertaining  the  proper  Drs.  and  Crs. 
of  every  business  transaction  recorded  in  the  Day-Book, 
and  writing  them  in  the  Journal.  This  requires  a  little 
thought.  Whenever  a  transaction  occurs,  the  Book-keeper 
should  reflect  for  a  moment,  and  see  what  part  of  the  pro 
perty  is  affected  by  that  transaction,  and  then  the  accounts 
that  represent  that  property  are  the  accounts  to  be  made 
Dr.  and  Cr.  Every  Dr.  must  have  a  corresponding  Cr:  of 
equal  amount,  and  every  Cr.  must  have  a  corresponding 
Dr.  of  equal  amount.  If  the  transaction  takes  from  one 
part  of  your  property,  and  adds  to  another,  the  account 
from  which  it  is  taken  is  made  Cr.,  and  the  one  to  which 
it  is  added  is  made  Dr.  Whenever  you  buy  property,  the 
account  representing  that  property  is  made  Dr.  to  what 
you  give  in  payment  for  it ;  or,  if  you  buy  it  on  trust,  it  is 
Dr.  to  the  person  that  trusted  you :  and  wrhen  you  sell 
that  property,  it  is  made  Cr.  by  what  you  receive  in  pay 
ment  for  it,  or,  if  it  is  sold  on  credit,  it  is  Cr.  by  the  person 
trusted. 

For  example,  if  you  buy  Merchandise  of  Lee,  Judson  & 
Lee,  on  account,  $500,  Merchandise  would  be  Dr.  to  Lee, 
Judson  &  Lee,  $500,  and  Lee,  Judson  &  Lee  Cr.  by  Mer 
chandise,  $500.  If  you  pay  them  Cash  for  it,  Cash  would 
be  Cr. ;  if  your  note,  Bills  Payable  would  be  Cr.  Or  if 
you  sell  Merchandise  on  account  to  J.  M.  Demmon,  he 
would  be  made  Dr.  to  Merchandise,  and  Merchandise  Cr. 
by  J.  M.  Demmon.  If  he  paid  you  Cash,  Cash  would  be 
Dr. ;  or  gave  you  his  note,  Bills  Receivable  would  be  Dr. 
If  you  give  your  note  to  Lee,  Judson  &  Lee  on  account, 
they  would  be  made  Dr.  to  Bills  Payable,  and  Bills  Paya 
ble  Cr.  by  Lee,  Judson  &  Lee.  When  you  redeem  that 
note  with  cash,  Bills  Payable  would  be  Dr.  to  Cash,  and 
Cash  Cr.  by  Bills  Payable.  If  J.  M.  Demmon  gives  you 
his  note  on  account,  Bills  Receivable  would  be  made  Dr. 
to  J.,  M.  Demmon,  and  J.  M.  Demmon  Cr.  by  Bills  Re 
ceivable.  When  he  redeems  that  note  with  cash,  Cash 
would  be  Dr.  to  Bills  Receivable,  and  Bills  Receivable  Cr, 
by  Cash. 


DIRECTIONS    FOR    POSTING.  139 


DIRECTIONS  FOR  POSTING. 

POSTING  is  transferring  the  business  transactions  from  the 
Journal  and  placing  them  under  their  respective  heads  in 
the  Ledger.  Commence  with  the  first  transaction  recorded 
in  the  Journal :  suppose,  for  example,  it  is  Joseph  M.  Dem- 
mon  Dr.  to  Merchandise.  You  will  first  turn  to  Joseph  M. 
Demmon's  account  in  the  Ledger,  and  enter  on  the  Dr.  side 
of  his  account,  To  Merchandise  (entering  the  date,  journal 
page,  and  amount,  as  directed  on  page  62),  then  make  a 
check-mark  opposite  the  name  in  the  Journal,  to  signify  that 
it  has  been  posted  ;  then  turn  to  the  Merchandise  Account, 
and  enter  on  the  Cr.  side,  By  Joseph  M.  Demmon,  entering 
the  date,  journal  page,  and  amount,  and  making  the  check 
mark  as  in  the  preceding  entry.  It  will  be  observed,  in 
making  an  entry  in  the  Ledger,  that  the  account  to  be  deb 
ited  is  made  Dr.  to  the  account  that  is  to  be  credited  for  the 
same  amount,  and  the  account  to  be  credited  is  made  Cr.  by 
the  account  debited. 

Where  there  is  more  than  one  Dr.  or  Cr.  in  the  same 
transaction,  the  expression  used  in  posting  is  To  or  By  Sun 
dries. 


TO   THE   PUPIL. 

After  becoming  familiar  with  the  instructions  given  on  the  preceding 
pages,  and  tracing  through  the  examples  on  the  five  following  pages, 
you  may  copy  the  Day-Book,  commencing  on  page  148,  in  your  blank 
Day -Book  ;  then  lay  aside  the  printed  book,  and  on  a  sheet  of  waste 
paper  journalize  the  Day-Book  entries  according  to  the  directions  pre 
viously  given,  then  compare  with  the  printed  Journal  to  see  if  you  have 
journalized  correctly ;  then  post  to  the  Ledger  as  above  directed,  inde 
pendent  of  the  printed  book,  and  make  out  your  Trial  Balance  and  Bal 
ance  Sheet  as  directed  on  pages  195  and  201. 


140 


BOOK-KEEPING. 


GENERAL  RULE   FOR  JOURNALIZING. 

THE  thing  received,  or  person  trusted  is  made  Dr.  "  To" 
the  thing  parted  with,  or  person  who  trusts  you ;  and  the 
thing  parted  with,  or  person  who  trusts  you,  is  made  Cr. 
"  By"  the  thing  received,  or  person  trusted. 

Profit  and  Loss  is  made  Dr.  for  all  losses,  and  Cr.  for  all 
gains.  Every  Dr.  must  have  a  Cr.  of  equal  amount,  and 
every  Cr.  must  have  a  Dr.  of  equal  amount., 


EXERCISES  IN  JOURNALIZING. 


Transactions. 

Sold  D.  W.  Clark,  on  acct.,  mdse.,  $200. 
Bot.  of  D.  W.  Clark,  on  acct.,  mdse.,  $200. 

D.  W.  Clark  has  paid  me  cash,  on  acct., 
$200. 

Paid  D.  W.  Clark  cash,  on  acct.,  $200. 

Sold  W.  W.  Hart,  on  his  note,  30  days, 
mdse.,  $175. 

Bot.  of  W.  W.  Hart,  on  my  note,  60  days, 
mdse.,  $250. 

"W.  "W.  Hart  has  paid  his  note,  in  cash, 

$175. 
Paid  my  note  to  W.  W.  Hart,  in  cash,  $250. 

Sold  J.  H.  Holmes  mdse.,  $450.  Eeceived 
in  payment  his  note  for  $250,  and  cash 
for  the  balance,  $200. 

Bot.  t>f  J.  H.  Holmes  mdse.,  $500.  Gave 
in  payment  my  note  for  $250,  and  cash 
for  the  balance,  $250. 

Exchanged  the  above  notes  with  Holmes, 
$250. 

Bot  of  J.  Dunning  his  house  and  lot  on 
Spring-street,  $2,000.  Gave  in  payment 
cash,  $1,000,  mdse.,  $500,  and  my  note 
for  the  balance,  $500. 

Sold  my  house  and  lot  on  Spring-street 
for  $2,500.  Eeceived  in  payment  S.  S. 
Clark's  note,  3  months,  $1,000,  cash 
$1,000,  and  mdse.  for  the  balance,  $500. 

The  Commercial  Bank  has  discounted  S. 
8.  Clark's  note  for  $1,000.  Discount, 
I1T.50;  cash  received,  $982.50. 


Journalized. 

D.  W.  Clark,  Dr.,  $200.  Mdse.,  Cr.,  $200. 
Mdse.,  Dr.,  $200.  D.  W.  Clark,  Cr.  $200. 
Cash,  Dr.,  $200.  D.  W.  Clark,  Cr.,  $200. 

D.  W.  Clark,  Dr.,  $200.    Cash,  Cr.,  $200. 

Bills  Receivable,  Dr.,  $175.  Mdse.,  Cr., 
$175. 

Mdse.,  Dr.,  $250.    Bills  Payable,  Cr.,  $250. 

Cash,  Dr.,  $175.      Bills  Receivable,  Cr., 

$175. 

Bills  Payable,  Dr.,  $250.    Cash,  Cr.,  $250. 

Bills  Receivable.  Dr.,  $250.  Cash,  Dr., 
$200.  Mdse.,  Cr.,  $450. 

Mdse.,  Dr.,  $500.  Bills  Payable,  Cr.,  $250. 
Cash,  Cr.,  $250. 

Bills  Pavable,  Dr.,  $250.  Bills  Receivable, 

Cr.,  $250. 

Real  Estate,  Dr.,  $2,000.  Cash,  Cr.,  $1,000. 
Mdse.,  Cr.,  $500.  Bills  payable,  Cr., 

$500. 

Bills  Receivable,  Dr.,  $1,000.  Cash,  Dr., 
$1,000.  Mdse.,  Dr.,  $500.  Real  Estate, 
Cr.,  $2,500. 

Cash,  Dr.,  $982.50.  Interest,  Dr.,  $17.50, 
Bills  Receivable,  Cr.,  $1,000. 


BOOK-KEEPING. 


141 


Transactions. 

Holmes  &  Co.,  New  York,  consigned  an 
invoice  of  goods  to  ine,  to  be  sold  on 
their  account,  $575.  I  have  paid  for 
freight  and  charges,  in  cash,  $34 

I  have  consigned  goods  to  Holmes  &  Co., 
New  York,  to  be  sold  on  my  account 
invoiced  $645.  Paid  freight  and  cartage 
on  do.  in  cash,  $36.50,  and  gave  my  note 
for  insurance  on  do.,  $19.35. 

Sold  Holmes  &  Co.'s  goods  for  $650.  Re 
ceived  in  payment  P.  Almy's  note  for 
$300,  and  cash  for  balance,  $350. 

Received  an  account  sales  of  goods  con 
signed  to  Holmes  &  Co.,  New  York. 
Net  proceeds  amount  to  $716. 

P.  Almy  has  paid  his  note,  with  interest 
Note,  $300;  interest,  $5.25— $305.25. 

Holmea  &  Co.,  New  York,  have  remitted 
me  a  Bill  of  Exchange  on  James  Ander 
son,  for  $716. 

Bot.  of  J.  Jones  &  Co.,  for  cash,  a  draft  on 
New  York  for  $533.50,  at  a  premium  of 
i  of  1  per  cent,  $2.92,  which  I  have  re 
mitted  to  Holmes  &  Co.,  New  York. 

Dean  Tisdale  has  made  a  draft  on  me  at 
80  days'  sight,  which  I  have  accepted, 
for  $125. 

Paid  D.  Tisdale's  draft  on  me  as  follows : 
in  merchandise,  $75,  and  gave  him  an 
order  on  W.  W.  Hart  for  $50. 

John  Doe  has  failed,  and  I  have  sold  the 
note  I  held  against  him,  of  $250,  for  $100. 
Eeceived  in  payment  cash. 

Bot.  a  quantity  of  broadcloth,  in  companv 
with  B.  Hartford,  $250.  Paid  cash  for 
my  half,  $125. 

Bot.  of  W.  W.  Ely,  for  cash,  100  bbL«.  of 
flour  for  $650,  which  I  immediately  sold 
for  $750. 

Bot.  of  F.  Cate,  for  cash,  2,000  Ibs.  of  tal 
low,  for  $160,  which  I  immediately  sold 
for  $140. 

Commenced  business  with  cash,  $2,000. 

Commenced  business  with  cash,  $1,000. 
mdse.,  $1,000,  and  notes  against  sundry 
persons,  $500. 

Commenced  business  with  cash,  $500, 
mdse.,  $500,  notes  against  sundry  per 
sons,  $500,  real  estate,  valued  at  $1,000; 
and  owe  D.  Hood,  on  acct.,  $250,  sundry 
persons  on  notes,  $500. 

Commenced  business  with  cash,  $SOO, 
mdse.,  which  I  bought  as  follows;  of 
Stewart  &  Co.,  on  account,  $1,700,  of 
Bowen  «fc  McNamee,  on  my  note  at  60 
days,  $1,500.  I 


Journalized. 

Holmes  &  Oo.'s  consignment,  Dr.,  $34. 
Cash,  Cr.,  $34. 


Consignment  to  New  York,  Dr.,  $700.S5. 
Mdse.,  Cr.,  $645.  Cash,  Cr.,  $36.50.  Bilia 
Keceivable,  Cr.,  $19.35. 


Bills^  Receivable,  Dr.,  $300.  Cash,  Dr., 
$3oO.  Holmes  &  Co.'s  consignment, 
Cr.,  $650. 

Holmes  &  Co.,  Dr.,  $716.  Consignment 
to  New  York,  Cr.,  $716. 

Cash,  Dr.,  $305.25.     Bills  Receivable  Cr 
$300.     Interest,  Cr.,  $5.25. 

Bills  Receivable,  Dr.,  $716.  Holmea  &  Co. 
Cr.,  $716. 

Hoi mes&  Co,,  Dr.,  $583.50.  Interest  Dr 
$2.92.  Cash,  Cr.,  $580.42. 


Dean  Tisdale,  Dr.,  $125.     Bills  Payable, 

Bills  Payable,  Dr.,  $125.     Mdse.,  Cr.,  $75, 
W.  W.  Hart,  Cr.,  $50. 

Cash,  Dr.,  $100.    Profit  and  Loss  Dr   $150 
Bills  Receivable,  Cr,,  $250. 

Mdse.  Co.  A,  Dr.,  $125.     Cash,  Cr.,  $125. 
Cash,  Dr.,  $100.    Profit  and  Loss,  Cr.,  $100. 
Profit  and  Loss,  Dr.,  $20.     Cash,  Cr.,  $20. 

Cash,  Dr.,  $2,000.     Stock,  Cr..  $2,000. 
Cash,  Dr..  $1,000.  Mdse.,  Dr.,  $1,000.    Bills 
Dr.,     $500.      Stock,    Cr., 


Cash,  Dr.  $500.    Mdse.,  Dr.,  $500.    Bills 
Receivable,  Dr.,  $500.     Real  Estate  Dr 
$1,000.     Stock,  Cr.,  $2,500,     Stock,  Dr 
$750.     D.  Hood,  Cr.,  $250.    Bills  Paya 
ble,  Cr.,  $500. 

Cash,  Dr.,  $800.  Mdse.,  Dr.,  $3,200.  Stock 
Cr.,  $4,000.  Stock,  Dr.,  $3,200.  Stewart 
&  Co.,  Cr.,  $1,700.  Bills  Payable,  Cr., 
$1,500. 


EXAMPLES. 

DAY-BOOK  ENTRY. 


C/?  //    p  sy/?     rr 

tx  OM  <_y  daac    c7&  .  j  am-ewn,    en 

far 


^a 


500   00 
300,  00 


500 


00 


$00\  00 


(JOURNALISED.) 


*-/6 


.     %^ 


The  last  entry  is  commonly  expressed  in  the  Jour 

nal  us  follows  : 


.    to 


500 


$00 


^aj-nr 


00 


00 


00 


500    00 


500 
300 


500 


00 
00 


00 


300\  00 


The  expression  "Sundries,"  as  here  used,  seems  to  be  superfluous, 
and  often  confuses  the  learner,  who  gets  the  impression  that  there 
should  be  such  an  account  as  "Sundries"  in  the  Ledger.  We  have, 
therefore,  in  the  following  set  of  Books,  adopted  the  first  method  of 
expressing  the  Journal  entries. 

142 


||                         -sinoo 

•aStadpnunop 

| 

vfca 

• 
§ 

•8109^ 

'^ 

§ 

& 

& 

v          -^a 

|  ^        -^ 

143 


si 


144 


BOOK-KEEPING.  145 


GENERAL   QUESTIONS. 

Of  what  does  Part  2d  treat?  From  what  is  the  term  Double  Entry 
3nved?  What  kind  of  terms  are  "Debtor  and  Creditor?"  What  is 
meant  by  correlative  terms  ?  To  what  are  these  terms  applied  in  Single 
Entry?  To  what  are  they  applied  in  Double  Entry?  What  are  per 
sons  made  debtor  to  ?  For  what  are  they  made  creditor  ?  For  what  are 
property  acounts  made  debtor?  For  what,  creditor?  How  many 
classes  of  accounts?  Name  them.  What  are  Personal  accounts? 

hat  are  Fictitious  accounts?  What  are  Real  accounts ?  What  Books 
are  used?  How  many  principal  ones ?  Name  them.  Name  the  aux 
iliary  books. 

What  should  the  Day-Book  contain  ?     What  should  it  commence  with  ? 
What  should  be  entered  next?     In  what  order?     What  four  things 
should  each  entry  contain  ?    Name  them.     What  style  of  writin-  should 
used  in  this  book?     What  should  be  avoided?     What  is  the  Jour- 
TV  hat  accounts  are  entered  in  it  ?    What  is  the  use  of  this  book  ? 

low  are  accounts  prepared  for  the  Ledger?  What  is  the  process  of 
ferring  accounts  from  Day-Book  to  Journal  called  ?  What  is  the 
Ledger?  How  much  space  is  allowed  for  each  account?  What  is 
written  at  the  head  of  the  page  ?  How  do  we  transfer  accounts  from 
the  Journal  to  this  book  ?  What  is  the  process  called  ?  What  book  is 
used  with  the  Ledger,  to  enable  the  book-keeper  to  find  the  accounts 
more  rapidly?  Describe  it. 

Could  a  merchant's  account  be  kept  in  these  three  books?  Why 
use  auxiliary  books?  What  is  the  Cash-Book  ?  What  is  the  Bill  Book  ? 
^  hat  is  the  Bank-Book  ?  What  is  the  Account-Current  Book  ?  What 

ithe  "Account-Sales  Book?"  What  is  the  "Sales-Book?"  Describe 
method  of  using  this  book?  What  is  the  Invoice-Book?  What  is  the 
Letter-Book?  What  does  the  Stock  account  represent?  What  is  en 
tered  on  the  Debit  side  of  this  account  ?  What  is  entered  on  the  credit 
side  ?  What  does  the  difference  between  the  Dr.  and  Cr.  of  this  account 
show?  For  what  is  Profit  and  Loss  account  kept?  For  what  is  it 
made  Dr.  ?  For  what  is  it  made  Cr.  ?  What  doesthe  difference  between 
the  Dr.  and  Cr.  of  this  account  show  ?  For  what  is  the  Interest  account 
kept?  For  what  is  it  made  Dr.?  For  what  is  it  made  Cr  ?  What 
does  the  difference  between  the  Dr.  and  Cr.  of  this  account  show? 


143  BOOK-KEEPING. 

For  what  is  the  Expense  account  kept?  What  does  the  Dr.  side  of  this 
account  contain?  What  does  the  Cr.  side  of  this  account  contain? 
When  is  the  entry  made  on  the  Cr.  side  ? 

What  is  the  Merchandise  account?  Explain  it.  What  is  the  Real 
Estate  account?  What  is  the  Consignment  account?  Explain  the 
Consignment  account  of  James  Holmes.  What  is  the  Wheat  account? 
What  is  the  Cash  account?  What  is  the  Bank  account?  What  is 
the  Bills  Receivable  account  ?  What  is  the  Bills  Payable  account  ? 
What  is  Journalizing?  Explain  the  process.  What  is  Posting ?  Ex 
plain  the  process. 


DAY-BOOK,   OR  BLOTTER, 


DOUBLE    ENTRY. 


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£7&e 


'ia/t  on  JLm  at  40  d.  tig/it  /or 
i  /      • 


^    Geneva 
cottntea     tite     Jyote      i& 


4,000 
375 


500 
473 


Toajn 


469 
40 


4,375 


00 


00 


4,600 


55 


250 


00 


00 


00 


vo 


155 


:^^kh 

on    @6\ 


and 
$2,000.00 


foaiwnent    wadri 
/     # 

e.  for  i/".  £$.     aae  3 
/ 


fae  fir  $250.00 

and  immediate/™  4c/d  it  fir    300.00 


tfamue/    ^/amfidon     na4     /laid 

t/Tws  utitri,    infotedt,  qtven 
f 

],  at  3  montfa  fir 

3  m&ntn4  and  4  dait<4 


master,  avzd   &ondiqned  to   <jft.  £/. 
gfiopue,       SfiMany,       400 


4,000 
4,000 


4,000 


at  30 


5.50 


/  Of    x      •      G? 

ana     <bazt.    tn     &a 

tSwne 


<_/0 


ficua   nM 


\  at  3  t 

and  3 


•Su 


-/t  on  nvm,,  acce/ifed  ^/  une  45tn 
at  40  daud    eugnt  fir 

156 


550 

52 


300 
5 


00 


00 

00 


2,000 


50 


4,04$ 


602 


305 


250 


00 


00 


00 


00 


fter  J?.  £$.  fiaae  / 


nfamm    75  one    £aa  fiaic£  &6  J^Pote 

witetc^t,    at/ven 
^  at  3  mc'fytnd  fir 


v;>a<}n  C/CU&4  tnM  mcntn,  amount  to 


^saia    C/tove 


4,000 


00 


monwt    o  twce 


50.00  \ 


(/ 
',  amount*)  to 


157 


0$ 


4^60\  00 


50 


275 


50 


9^  00 


45 


00 


JOURNAL. 


DOUBLE    ENTRY. 


(7 


(77^       C/?  &      / 

c/  o  -&eef  Jr  addon 


.  Qfie 


*J  o 


S/Q 


5,2 

2,500 

2,300 

$50 


763 


Oft*. 


0^. 


634 


239 


00 


30 


96 


43 


224 


44,06$ 


93 


40,$64\  36 


475 


544 


634 


239 


204 


224 


50 

50 


30 


96 


43 


93 


160 


*y  o 


«_/  o 


enei>& 

o 


&* 

$5 

54 

£ 

$5 

54 

'**  0" 

243 

44 

243 

44 

es* 

454 

46 

/• 
? 

454 

46 

2,000 

00 

f 

2,000 

00 

0*. 

467 

50 

9 

467 

50 

0*\ 

2,000 

00 

Sp 
\y  @%&/it(Z' 

4,000 

00 

e 

4,000 

00 

uam^nent  0$?,. 

<* 

75 

4$ 

75 

0,. 

24 

75 

o 

24 

75 

1*     0, 

2,205 

25 

2,000 

00 

205 

25 

6,869 

39 

6,869 

39 

161 


0. 


ZTo 


/^ 

ZTo 


0?,. 


500 


50 


50  \ 


50 


5$ 


00 


00 


A4S 


50 


50 


50 


500 


00 


00 


162 


f,  S#M.  * 


Saweton,    WMnul  #  9*.  0*. 


C7"    Gf?    /,         ^5 
ex  0    e?  aideton,  C/ 


0.  <Kn 

&b.  <?&.  C/mitn,  6    TeovMtQ 


V   ^/, 


iJ  o 


-<^batt    45t£.- 

<7 


ite     i&o. 


163 


4,250 


227 


352 


{,550 


5,032 


00 


00 


00 


00 


75 


00 


50 


00 


00 


25 


625 
625 


42 


352 


242 


475 


427 


4,550 
5,032 


00 


00 
00 


00 


00 


75 


00 


50 


00 


00 

~25 


(/ 


<£<* 


0. 


«./  o  &/&6toaMwn    &o 


2frt.' 


o^&au  22d* 

^0^.^.0 


0% 


500 


250 


950 


0 


0 


too 


55 


2,477 


0 


6 


00 


00 


65 


5  25 
77  50 


500 


250' 


00 


00 


$50,  00 
400  00 


65 


400  00 


55 

2J77 


00 
~65 


164 


<y 


</ 


^aa/eton,  Sfwt/ii 


0t. 


t.  JP. 


•^iau    34tt.- 


t^  o 


c/  G 


c        eneva 


WFccMtnt 
ex* 


ZTo 


0*. 


A96 


2,775 


403 


2,000 


250 


4,000 


7,7^9 


00 


00 


50 


75 


00 


00 


00 


496 


2f775 


403 


250 


4,000 


424 


4,000 
7,749 


00 


00 


50 


62 


75 


00 


00 


00 


165 


,     T 


une 


<J  o 


<g*.  0* 


-SwntSd- 


ZTo 


c7&.  c7& .  C/mtdn, 

ZTo  <£<, 


.S* 


J?u 


9* 


991 


250 


5 


0 


50 


25 


636 


2,5*7 


25 


00 


9* 


/75 


50 


00 


997 


40 


50 


to 


s$r\  ^o 


25 


250  00 


646 


25 
2,547 


53 


00 
~5~0 


166 


Tt 


tme 


-J^ 


•<^une  S£t&.- 


o/  Ge 


•J?« 


or 
o/  o 


•J?« 


•Jf« 


4,000  00 
315  00 


4,600 


00 


00 


55 


250 


469 
40 


4,000 
4,000 

6,240 


00 


00 


7* 


,250\  00 
425    00 


00 


200  00 
427  \  00 
500  00 

473  ^  oo 


55    00 


250,  00 


4$0\  00 


2,000   00 
6,240\  00 


167 


9     ~jr 

^ 


d,  S & 49- 


aliment  to     rwanv  Qfii,. 


•JF« 


.<fwne  2$t&.- 


•Su 


50 


305 


250 


4,260 


4,617 


00. 


50 


00 


00 


4,000\  00 


550\  00 
52   00 


300 


00 


50 


250 


473 


4,000 


00 
43 


00 


50 


00 


00 


4,260 
4f677 


00 


168 


30  1£, 


^/  o     <&#t*/a 


zr* 


9$ 


S5 


5  S3 


50 


00 


00 


50 


275 


450 


50 


00 


00 


523  50 


INDEX    TO  THE    LEDGER. 


DOUBLE    ENTRY. 


B 


c 


*sr. 


^ondt-anment  to  S^wa 


I) 

A 

<F          <x? 
iJr&zac    i& . 


E 


47 


F 


H 


dC 


M 

9 

lancfo*    ^o. 


itri, &&,  &&.  d-  <£>on<uqnt. 


6 

f$ 
46 


so 


173 


U 


w 


X 


LEDGER. 


DOUBLE    ENTRY. 


i 


$ 


<&)       N^ 


'SO    ^ 


'So 


<a\  \> 

°^     "vb 

<s^    <s^ 


^    ^  ^    <&)    ^ 

^Ci     ^C5      ®^      ^     ^ 

V    V  ^    V 


^\)     ^     ^C) 
^    V    ^ 

GV^        ^j        ^s 


^2 


S 


^s 


"^        "^         V  V  V  V  \ 

^^ 


Grj 


^   "^    ^> 
^   V    ^> 


V    V 


m 


I 


1 


<s 


\>    'Co 


178 


-I 


V       \N 


1  1  1 


>     ;«•     s     v 


*4»" 


-SO 

^ 


1 
^  J  %l  & 


«1         « 

^    ^   ^     ^ 


-^ 


I 


179 


'So 


$ 

$ 


180 


] 

SI 

§ 

>i 

^ 
^ 

^ 

§ 

^s 

^ 

v^ 

'                  ^      1  I 

®* 

V 

4 

^ 

If 

§11 

t 

1 

v 

1? 

$ 


'  1 


ISl 


"So 


g 


s 


182 


SH 


\  <^ 

^  * 


^ 


t 


K.     s^ 


$ 


J 


^ 


183 


184 


• 

$x 


5? 


185 


li 
^ 

s> 


^   *  xN 


18Q 


§ 


8 

* 


^  4Jh 
•$iHv 


<N 

S^i 


137 


188 


s 


189 


-So 


* 


*   * 


"So 


«rs; 

s< 


§  v 


190 


191 


^ 


*\ 


*  J 


<% 


s 


'SO 


Orj 


>w 


sstf 


BOOK-KEEPING.  1 95 


TRIAL  BALANCE. 

The  Trial  Balance  is  taken  to  ascertain  whether  the 
Journal  entries  have  been  correctly  transferred  to  the 
Ledger,  and  may  be  made  as  follows: — 1st,  Rule  a  sheet 
of  paper  with  double  money  columns,  and  head  it  "  Trial 
Balance,"  with  Dr.  over  the  left,  and  Cr.  over  the  right- 
hand  money  columns.  2d.  Write  the  names  of  the  Ledger 
accounts  in  the  open  space  at  the  left,  and  also  on  the 
same  line  in  the  open  space  on  the  right,  and,  after  adding 
the  two  sides  of  each  account,  place  the  amount  of  the 
Dr.  side  in  the  Dr.  column,  and  the  Cr.  side  in  the  Cr. 
column  opposite  the  name  thus  written.  3d.  Add  the 
Dr.  and  Cr.  columns  of  the  Trial  Balance,  and  if  they  foot 
alike,  the  books  are  supposed  to  be  correctly  posted.  This 
proof  should  be  taken  as  often  as  once  a  month. 

NOTE. — The  student  must  examine  carefully  the  Trial  Balance  that 
is  found  on  the  two  following  pages.  By  noticing  how  the  above  rules 
have  been  applied  he  will  be  able  to  understand  the  purpose  of  this 
sheet.  It  is  customary,  after  drawing  off  or  making  the  "Trial  Bal 
ance,"  to  label  them,  and  folding  them  neatly,  to  place  them  in  a  pack 
age  together,  so  that  they  may  be  readily  referred  to.  In  order  to 
familiarize  himself  with  the  "Trial  Balance,"  let  the  pupil  draw  up  a 
"Trial  Balance"  of  the  preceding  accounts,  and  then  compare  it  with 
the  one  found  on  the  next  page.  On  the  following  pages  three  meth 
ods  are  given — all,  however,  involving  the  same  principle,  and  obtaining 
the  same  result. 


^ 


} 

^ 


% 

^ 


» 


^ 


-o 


i        U 

i  ^  S 


196 


r\-<£> 

$§ 


I 

^ 
_« 


IE 


V    Ns. 


SS 


«        I 


IS 


« 


1      ^  1 

^  ,  I  i 

«8     S  ^  .1 


197 


1 
« 

^ 


,* 


» 


^ 

^ 


% 


^o 


^  v  ^   ^   ^   ^\ 

^o    ess    ^    ^    Si>    Vs 

®*  ^  *<>  s.  v  QS 


«o 


s 


§!*r 


-QO   <5>    V 


V 


^  1 


sSi 


S 


S^ 


^ 


198 


V 


"So 
K 
'SO 


^S  <3^  ^> 
<5>  ir>  Jc> 
^  <^  V 


<^>     ic> 

*Ci      ^ 


1 

5^      \N                               V{ 

'^o    ck                 > 
^    <^>                k 

sT 

^            § 

•i                  V 

1 

t 

-so 

to 


f 


1    5 


-2  § 


s»  ^  ^ 

§§^ 


:> 

-so     ^- 


•* 


§  8     § 


$ 


1*t-l* 

t\~    v^1^    v^^    ^ 


s 


9* 


199 


1 


0;, 
'So 


'SO 


V 


•fe 


* 

*  1 


BOOK-KEEPING.  201 

BALANCE  SHEET. 

Merchants  as  often  as  once,  and  sometimes  twice,  a  year 
balance  their  Ledgers,  and  make  out  what  is  termed  a 
Balance  Sheet.  This  sheet  exhibits,  in  a  condensed  form, 
a  statement  of  their  mercantile  affairs,  and  forms  the  mate 
rials  for  opening  a  new  set  of  books,  containing  on  the 
Dr.  side  the  debts  due  them,  cash  on  hand,  and  the  value 
of  merchandise  or  other  property  remaining  unsold;  and 
on  the  Or.  side,  the  amount  of  their  indebtedness  to  others. 
The  difference  between  the  two  sides  is  of  course  their  net 
capital. 

DIRECTIONS  FOR  MAKING  A  BALANCE  SHEET. 

1st.  Write  "Balance  Sheet"  at  the  top  of  a  page  in  the 
Ledger. 

2d.  Take  an  inventory  of  all  property  unsold,  and  make 
the  accounts  representing  the  property  Cr.  "  By  Balance" 
for  the  value  of  what  remains  unsold ;  then  place  the  name 
of  the  account,  and  the  same  amount,  on  the  Dr.  side  of 
the  Balance  Sheet. 

3d.  Ascertain  what  accounts  show  a  gain  or  loss  on  the 
business,  and  balance  these  accounts  "  To"  or  "  By  Profit 
and  Loss"  for  the  difference ;  then  turn  to  the  "Profit  and 
Loss"  account,  and  enter  the  title  of  the  account,  and  the 
amount,  if  a  gain,  on  the  Cr.  side,  or,  if  a  loss,  on  the  Dr. 
side  of  said  account. 

4th.  Balance  Private  account  and  Profit  and  Loss  "  To" 
or  "  By  Stock."  If  the  Profit  and  Loss  account  shows  a 
gain,  carry  it  to  the  Cr.  side ;  if  a  loss,  to  the  Dr.  side  of 
the  Stock  account. 

5th.  Balance  all  other  accounts,  except  Stock,  "  To"  or 
"  By  Balance."  If  the  Dr.  side  is  the  largest,  make  the 
account  Cr.  "  By  Balance"  for  the  difference,  and  enter 
the  name  of  the  account,  and  the  amount,  on  the  Dr.  side 
of  the  Balance  Sheet ;  or  if  the  Cr.  side  is  the  largest, 
make  it  Dr.  "To  Balance"  for  the  difference,  and  enter 
the  name  of  the  account,  and  the  amount,  on  the  Cr.  side 
of  the  Balance  Sheet. 

6th.  Balance  Stock  account  "To"  or  "By  Balance"  for 
the  difference,  and,  if  the  operation  of  balancing  is  cor 
rectly  performed,  the  balance  of  this  account  will  exactly 
balance  the  Balance  Sheet. 


Ni 


202 


INVENTORY-BOOK 


DOUBLE    ENTRY. 


tale 


/  2d, 


f 

^  tf^,                960  ^,/,  ^ 

.40 

96 

00 

2 

do.                            4,926       "       " 

.45 

2$$ 

90 

2 

do.                         4,$42      "      " 

.42 

224 

04 

/ 

&unte                       4,000      "       " 

.0$ 

$0 

00 

a 

do.                        2,425 

.40 

242\  50 

2 

do.                        2,446      "      " 

.44\ 

244 

42 

A 

@8a&4   ^otttw   *i£6ee&         2,400 

.40 

240   00 

$ 

"         &'u>4ina6     3,600      "       " 

.43 

46$    00 

5 

(Stuffing  2,250      "      " 

.09 

202  50 

3 

Cga*c*  tfafaicU                       4,  $00 

.55 

990   00 

2 

//                   (-/^               *                                                               $flfl              //              // 

4.25 

4,000    00 

4 

&*.  £xtta  &.  08  &.  do.         462 

2.00, 

324^  00 

4 

"     y-ufa  £$&  £$  *i£&t&  400      "      " 

4.50, 

450   00 

/ 

l 

2 

"      gft/ue  (%)£.  &.  ^/otft,       50       "       " 

2.50, 

425    00 

£ 

//      <h  xti^t  ^r  .  &AJfc.  d/J.  &  lot/i  50 

5.50 

2J5 

00 

5,244 

36 

tx  itventoiflf  Of  i/r  ofcd-. 

' 

at  3  month  f  due  <_Fune  26t/i  and  29tft, 

ft' 

4,000 

00 

/ 

£wen  fy  yamttef  ^am/Men,  *Jt>a*.  22d, 

1$49\ 

at  3  vnont/M,  due  Jfune  22d,  and  §5£n, 

/•» 

4,000 

00 

/ 

tfwen  A  J^.  <Ji.  0emmon  <Jbai.  23td,  i 

f$49, 

at  3  month,  da*  Jfune  23d  and  6t£,  fir 

300 

00 

2,300 

00 

iSnventovy>  o^  Qrccoivntt}-. 

A 

leniamtn     (oone 

$50 

00 

204 


INVOICE-BOOK. 


DOUBLE    ENTRY. 


/<) 

6 

6 


JP. 
%> 

J?c 


2 ,09$  MA.      at     .6 

5f2aa£t.    "    .34 
&  „„ 


-9 


6J5 

732 
$24 
336 


JPe 


<6>. 


do.        202 


.  vu  Jrote  at  6  mo*. 
.  gfiett* 


.60 


J?o.  625      $00 


653 
655 


3,279 


at 


This  is  thought  sufficient  to  illustrate  the  use  and  method  of 
keeping  this  Book. 

206 


SALES-BOOK. 


DOUBLE   ENTRY. 


208 


(7 


,  Q/b/ui 


JP.  0. 


.  at 


aawauta,  (/o 

0          (7 


25 


4.50 
2.00 


^a 


600 


The  foregoing  is  thought  sufficient  to  illustrate  clearly  the 
use  and  method  of  keeping  the  Sales-Book.  The  letter  E  in  the 
margin  denotes  that  the  transaction  has  been  entered  in  the 
Day-Book,  and  by  an  examination  it  will  be  found  that  the  trans 
actions  correspond  with  the  entries  made  in  that  Book. 


45\  60 

77\  9$ 
$\56 


50 
00 


467   50 


55 


67 
375 


50 
00 

Yo 


209 


210  BOOK-KEEPING. 


PRACTICAL  EXERCISES. 

THE  following  is  a  Memorandum  of  the  business  trans 
actions  for  the  month  of  June,  which  the  learner  may  re 
cord  in  the  Day-Book,  journalize,  post,  take  a  Trial  Bal 
ance,  balance  the  Ledger  accounts,  and  make  out  a  Balance 
Sheet,  as  in  the  preceding  form. 


MEMORANDUM. 

JUXE 

3d.  I  have  this  day  commenced  business  with  effects  and 
debts,  as  shown  by  the  "  Balance  Sheet"  in  the  preceding 
form.  5th.  Received  per  boat  "  Emerald,"  Collins,  master, 
an  invoice  of  goods  shipped  by  Stewart  &  Co.,  pursuant 
to  my  order,  amounting  to  $956.00.  Paid  freight  and 
charges  in  cash,  $46.75.  6th.  Sold  Henry  B.  Holbrook 
merchandise,  per  S.  B.,  amounting  to  $56.00.  Sold  Henry 
Holmes,  for  cash,  merchandise,  amounting,  per  S.  B.,  to 
$97.63.  9th.  Bot.  of  Daniel  Jones,  for  cash,  merchandise, 
amounting,  per  S.  B.,  to  $48.96.  12th.  Sold  Joseph  M. 
Demmon,  on  account,  merchandise,  per  S.  B.,  $73.19.  Re 
ceived  from  F.  S.  Bogue,  Albany,  an  account  sales  of  flour 
consigned  to  him,  June  25th ;  net  proceeds,  $698.00,  for 
which  he  has  remitted  me  a  check  on  the  Bank  of  Geneva. 
14th.  Sold  David  Coleman,  for  cash,  merchandise,  per  S.  B., 
$139.64;  Jameson,  Willard  &  Co.,  on  account,  merchan 
dise,  per  S.  B.,  $158.50.  Deposited  in  the  Bank  of  Geneva, 
$700.00.  16th.  Accepted  Stewart  &  Co.'s  draft  on  me,  at 
30  days'  sight,  for  $956.00.  19th.  Received  from  Henry 
B.  Holbrook  cash,  to  balance  account.  Bot.,  for  cash,  of 
J.  &  H.  Mirick,  100  bbls.  of  flour,  at  $5.50,  which  I  imme 
diately  sold  for  $6.00  per  bbl.  20th.  Received  per  boat 


BOOK-KEEPING.  211 

"  Swan,"  H.  Denman,  master,  from  K  Y.,  an  invoice  of 
broadcloth,  amounting,  per  invoice,  to  $316.00,  consigned 
to  me  by  Cromwell,  Haight  &  Co.,  to  be  sold  on  their  ac 
count  ;  paid  freight  and  charges  in  cash,  $10.00.  21st.  Sold 
Charles  D.  Campbell  merchandise,  per  S.  B.,  $46.00.  De 
posited  cash  in  the  Geneva  Bank,  $1,000.  24th.  Sold 
Thomas  Collins  32  yds.  Cromwell,  Haight  &  Co.'s  broad 
cloth,  at  $4.50.  Received,  in  payment,  his  note  at  60  days 
for  one-half,  and  cash  for  the  balance.  2  8th.  Bot.  of  John  H. 
Holmes  his  house  and  lot  on  Broad  street,  for  $2,000.  Gave 
in  payment,  cash,  $1,000,  and  my  note  for  the  balance. 
Sold  Lewis  &  Herrick  the  remainder  of  Cromwell,  Haight 
&  Co.'s  broadcloth,  for  $300.00.  Charles  D.  Campbell 
has  paid  me  cash  to  balance  his  account.  30th.  Made  up 
an  account  sales  of  Cromwell,  Haight  &  Co.'s  consignment ; 
my  commission  on  sales,  5  per  cent.  Joseph  M.  Demmon 
has  paid  me  cash  to  balance  his  account.  Sold  William 
W.  Hart,  on  his  note  at  90  days,  merchandise,  amounting 
per  S.  B.,  to  $216.  Paid  Isaac  C.  Dixon  his  salary  for  one 
month,  $50.00.  Store  expenses,  per  Expense-Book,  amount 
to  $47.00.  Cash  sales  of  merchandise  this  month,  $163.00. 
Merchandise  unsold,  per  inventory  taken  this  day,  amounts 
to  $893.20. 


212  BOOK-KEEPING. 

FORM  FOR  RETAILERS. 

DOUBLE  ENTRY. 

THE  books  necessary  for  this  form  are  the  Day-Book, 
Journal,  Ledger,  Petty  Cash-Book,  Monthly  Cash-Book, 
Merchandise-Book,  Bank-Book,  Bill-Book,  and  Expense- 
Book. 

The  Day-Book,  Journal,  Ledger,  and  Petty  CasJi-J3ook 
are  the  same  as  those  in  the  "  Merchants'  Form,"  Single 
Entry ;  also  the  manner  of  Journalizing  and  posting. 

Monthly  Cask-JBook  is  a  book  in  which  the  sum  total  of 
the  receipts  and  disbursements  of  cash  are  entered  daily 
from  the  Petty  Cash-Book ;  and  at  posting,  the  sum  total 
for  the  month  of  the  debits  is  transferred  to  the  Dr.  side, 
and  the  sum  total  of  the  credits  to  the  Cr.  side  of  the  cash 
account,  in  the  Ledger. 

Merchandise- JBook. — This  book  is  kept  to  show  the 
amount  paid  and  received  for  Merchandise.  Both  the  Dr. 
and  Cr.  sides  of  this  book  are  ruled  with  double  money 
columns — for  cash  purchases  and  credit  purchases;  and  for 
cash  sales,  and  credit  sales.  The  amount  of  merchandise 
on  hand  commencing  business,  also  the  amount  of  merchan 
dise  purchased,  should  be  entered,  with  the  date,  on  the 
Dr.  side  of  this  book,  "To  Cash,"  "To  Bills  Payable,"  or 
"  To  Sundries,"  as  the  case  may  be ;  or  if  purchased  on 
credit,  make  it  Dr.  to  the  individual  of  whom  it  was  pur 
chased. 

If  there  should  be  several  purchases  on  the  same  day, 
make  it  Dr.  to  "  Sundries"  for  the  sum  total. 

Every  night,  at  the  close  of  business,  the  amount  of  the 
cash  sales-for  the  day  should  be  entered  in  the  cash  columns, 
on  the  Cr.  side  of  this  book.  At  the  close  of  the  month, 
the  credit  sales  for  each  day  should  be  added  in  the  Day- 
Book,  and  entered  in  the  left-hand  margin  of  said  book, 


BOOK-KEEPING.  213 

opposite  the  date  (being  careful  not  to  add  any  that  are 
marked  "  Returned"  in  the  margin);  from  thence  trans 
ferred  to  the  credit  columns  of  the  Cr.  side  of  this  book. 
At  posting,  the  sum  total  of  the  debits  should  be  trans 
ferred  to  the  Dr.  side,  and  the  sum  total  of  the  credits  to 
the  Cr.  side  of  the  Merchandise  account  in  the  Ledger. 

At  the  time  of  balancing  the  books,  by  taking  an  inven 
tory  of  the  merchandise  unsold,  and  placing  its  value  to 
the  Cr.  side  of  the  Merchandise  account  in  the  Ledger,  the 
difference  between  the  two  sides  of  this  account  will  show 
the  g.ain  or  loss  on  merchandise. 

BANK-BOOK. 

This  is  a  book  usually  given  by  banks  to  persons  deposit 
ing  money  with  them.  On  the  Dr.  side  is  entered  all  sums 
deposited,  with  the  date  and  name  of  the  individual  by 
whom  deposited.  This  is  done  by  the  receiving  clerk. 
At  the  close  of  the  month,  the  amount  drawn  out  should 
be  placed  on  the  Cr.  side,  and  the  book  balanced. 

The  sum  total  of  the  deposits  for  the  month  should  be 
transferred  to  the  Dr.,  and  the  amount  checked  out  during 
the  month  to  the  Cr.  side  of  the  bank  account  in  the  Ledger. 

BILLS  RECEIVABLE. 

All  written  obligations  for  the  payment  of  money,  which 
you  hold  against  other  individuals,  are  called  Bills  Re' 
ceivable,  and  should  be  entered  in  this  book  when  taken. 
At  the  time  of  posting  the  month's  transactions,  the  amount 
of  Bills  received  during  the  month  should  be  transferred 
to  the  Dr.  side  of  the  Bills  Receivable  account  in  the  Led 
ger  ;  and  the  amount  of  all  such  bills  which  have  been  re 
deemed  should  be  transferred  to  the  Cr.  side  of  the  same 
account. 


214  BOOK-KEEPING. 

BILLS  PAYABLE. 

All  written  obligations  for  the  payment  of  money,  which 
you  give  to  other  persons,  are  called  Bills  Payable,  and 
should  be  entered  in  this  book  when  given.  At  the  time 
of  posting  the  month's  transactions,  the  amount  of  such 
bills  given  should  be  transferred  to  the  Cr.  side  of  Bills 
Payable  account  in  the  Ledger ;  and  the  amount  of  all  such 
bills  which  have  been  redeemed  should  be  transferred  to 
the  Dr.  side  of  the  same  account. 

Expense-Book. — This  is  a  book  in  which  a  memorandum 
is  kept  of  all  sums  paid  or  incurred  by  the  merchant  in 
conducting  his  business ;  such  as  store  rent,  clerk  hire, 
freight,  cartage,  porterage,  postage,  advertising,  fuel,  &c., 
&Q.  At  the  close  of  the  month,  the  sum  total  of  the  ex 
penses  should  be  transferred  to  the  Dr.  side  of  the  Expense 
account  in  the  Ledger. 

A  memorandum  of  the  transactions  is  given  for  the 
months  of  February  and  March,  which  the  learner  may  re 
cord  in  the  same  manner  as  the  month  of  January. 

As  this  set  of  books  is  to  be  journalized  the  same  as  the 
"  Merchant's  Form,"  Single  Entry,  we  have  omitted  the 
Journal  entirely,  leaving  it  for  the  learner  to  journalize  for 
himself;  and  if  he  journalizes  and  posts  correctly,  his 
Ledger  will  agree  with  the  Ledger  in  the  book. 

Note. — The  sums  to  be  posted  from  either  the  Cash-Book, 
Merchandise-Book,  Bank-Book,  Bill-Book,  or  Expense- 
Book,  may,  at  the  option  of  the  book-keeper,  be  posted 
directly  to  the  Ledger,  or  entered  in  the  Journal,  after  the 
Day-Book  has  been  journalized  and  posted  from  there  to 
the  Ledger. 


DAY-BOOK     RETAILER'S   FORM. 


DOUBLE    ENTRY. 


C/.    t^u 


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J, 


3% 


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$4555 


$450 


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4.50 

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40 


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.0$ 


,  rreane&dau,  J/an.  <?/^ 


$3.90 


$30.35 


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2.00 


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20 
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3$ 


MEMORANDUM. 

FEBRUARY 

3d.  Sold  John  R.  Smith,  per  wife,  9  yds.  calico,  at  12£c., 

2  yds.  Bishop  lawn,  at  44c.,  and  2  linen  handkerchiefs,  at 
31c. ;  James  H.  Hooker,  3  yds.  gray  cloth,  at  75c. ;  and 
bought  of  him  28  Ibs.  butter,  at  15c.     4th.  Sold  Berkley 
Giliett  50  Ibs.  sugar,  at  7c.,  and  -5  gals,  molasses,  at  40c. 
5th.  Sold  William  F.  Campbell,  per  wife,  10  yds.  calico,  at 
12c. ;  Henry  L.  Fulton,  1  pair  kid  buskins,  at  $1.25,  and  1 
pair  kid  gloves,  at  75c.     6th.  Sold  Lemuel  Potter  28  yds. 
carpeting,   at  YSc.     8th.  Sold  William  W.  Hart   1    satin 
vest  pattern,  at  $3.25,  1  yd.  cambric,  at   10c.,  1  yd.  white 
do.,  at  13c.,  and  \  doz.  buttons,  at  6c.     10th.     Sold  Wm. 
F.  Campbell  2i  yds.  linen,  at  $1.00,  10  yds.  gingham,  at 
25c.;  and  he  has  paid  me  cash,  $10.00.     llth.'Sold  Eli  B. 
Johnson,  per  wife,  10  yds.  French  merino,  at  $1.25,  \\  yd. 
cambric,  at  10c.,  and  6  skeins  silk,  at  4c. ;  John  R.  Smith, 

3  yds.  black  cassimer,  at  $1.75,  and  2£  yds.  factory,  at  lOc. 
12th.  Sold  Henry  L.  Fulton   2   galsf  lamp   oil,   at   $1.00. 
14th.   Sold  Berkley  Giliett,  per  daughter,  6  yds.  parametta, 
at  75c.,  H  yd.  cambric,  at  10c.,  and  2  skeins  silk,  at  4c. ; 
Lucius  Clark  15   Ibs.  nails,  at  5c.,  and  1  gal.  lamp  oil,  at 
$1.00.     17th.  Sold  Eli  B.  Johnson  3^-  yds.' flannel,  at  40c., 
2  brooms,  at  16c. ;  and  he  has  paid  me  cash,  $8.00.     18th, 
Sold  John  R.  Smith  50  Ibs.  sugar,  at  8c.,  and  2  Ibs.  Young 
Hyson  tea,  at  75 c. ;  Lysander  Woodward,  9  yds.  gingham, 
at  25c.,  4  Ibs.  coffee,  at  15c.,  \  Ib.  cinnamon,  at  44c.,  and 
5  Ibs.  raisins,  at  15c.     19th.  Credited  Townsend,  Hamil- 

220 


BOOK-KEEPING.  221 

ton  &  Co.  for  merchandise,  per  inventory,  $274,00.  Sold 
James  H.  Hooker  1  pair  rubbers,  at  $1.13.  21st.  Sold 
William  F.  Campbell  1  silk  pocket  handkerchief,  at  75c., 
and  1  cravat,  at  $1.50.  22d.  Sold  Lucius  Clark  8  yds. 
gingham,  at  31c.,  and  1|  yd.  of  cambric,  at  lOc. ;  Henry 
L.  Fulton,  5  Ibs.  pulverized  sugar,  at  lie.  24th.  Sold 
Lemuel  Potter,  per  wife,  24  yds.  calico,  at  10c.,  5  Ibs.  bat 
ting,  at  12£c.,  thread,  at  6c. ;  and  bought  of  him  54-  Ibs. 
butter,  at  16c.  26th.  Sold  William  W.  Hart  5£  yds.  para- 
metta,  at  75c.,  4  skeins  silk,  at  4c. ;  and  he  has  paid  me  cash, 
$7.50.  28th.  Sold  Levi  S.  Fulton  4  Ibs.  candles,  at  124-c., 
5i  Ibs.  butter,  at  16c.,  and  1  Ib.  saleratus,  at  8c. ;  William 
F.  Campbell,  per  wife,  1  set  fine  blue  tea  ware,  at  $3.50  ; 
and  bought  of  him  56  Ibs.  dried  apples,  at  5c.  Received 
from  McKnight  &  Pardee  merchandise,  per  invoice,  at 
$74.75  ;  and  paid  them  cash,  $50.00.  Sold  John  R.  Smith 
2  bed  cords,  at  31c.,  and  2  yds.  table  linen,  at  75  c.  Ex 
amined. 


MARCH 


1st.  Deposited  in  Commercial  Bank,  this  day,  $500.00. 
Sold  Henry  L.  Fulton  1  cravat,  at  $1.50,  and  1  pair  kid 
gloves,  at  $1.00.  William  F.  Campbell  has  paid  me 
James  Cone's  note,  due  June  1st,  for  $9.50.  Samuel 
Curnmings  paid  me  for  3  yds.  gray  cloth,  at  75c.  3d. 
Sold  James  H.  Hookeivper  wife,  6  yds.  alpaca,  at  75c.,  1 
yd.  cambric,  at  10c.,  and  2  skeins  silk,  at  4c. ;  John  R. 
Smith,  per  wife,  1  yd.  black  silk,  at  $1.25,  and  1  cord  and 
tassel,  at  $1.00.  4th.  Sold  Berkley  Gillett  1  pair  kid 
gloves,  at  $1.00.  6th.  Sold  Eli  B.  Johnson  36  yds.  shirt 
ing,  at  12ic.,  2i  yds.  linen,  at  $1.00,  and  6  spools  thread, 
at  5c.  7th.  Sold  William  F.  Campbell  1  whitewash 
brush,  at  75c.,  and  2  brooms,  at  20c. ;  Lemuel  Potter,  15 
Ibs.  sugar,  at  8c.,  4  Ibs  coffee,  at  15c.,  1  Ib  Young  Hyson 
tea,  at  75c.,  1  Ib.  saleratus,  at  8c. ;  and  bought  of  him  10£ 
Ibs.  butter,  at  15c.  8th.  Sold  Lucius  Clark  16  yds.  car 
peting,  at  75 c.,  and  1  piece  binding,  at  31c. ;  Henry  L. 
Fulton,  9  yds.  gingham,  at  25c.,  and  1  yd.  cambric,  at  lOc. 
10th.  Sold  John  R.  Smith  1  satin  vest  pattern,  at  $3.00,  1 
yd.  cainbric,  at  lOc.,  and  1  yd.  white  do.,  at  13c.  13th. 
Sold  William  F.  Campbell  9  yds.  carpeting,  at  50c.,  and  1 
piece  binding,  at  31c. ;  James  II.  Hooker,  3  linen  handker 
chiefs,  at  44c.,  and  1  silk  do.,  at  75c.  14th.  Sold  Lysan- 


222  BOOK-KEEPING. 

der  Woodward  9  yds.  ticking,  at  12£c.,  thread,  at  12c. ; 
and  he  has  given  me  his  note  at  30  days,  to  balance  his 
account,  for  $11.37.  15th.  Sold  Berkley  Gillett  30  yds. 
bleached  factory,  at  12|c.,  2  yds.  linen,  at  75c.,  and  6 
spools  thread,  at  5c.  18th.  Sold  Lemuel  Potter  1  yd.  linen, 
at  $1.00,  and  1  pair  gloves,  at  44c.  20th.  Lucius  Clark 
has  paid  me  cash,  $10.00.  Sold  William  F.  Campbell  1 
vest  pattern,  at  1.75,  1  yd.  cambric,  at  10c.,  and  f  yd. 
wiggan,  at  12c.  21st.  Sold  Berkley  Gillett  9  Ibs.  sugar, 
at  10c.,  4  Ibs.  rice,  at  6c.,  and  4  Ibs.  coffee,  at  12ic. ;  Eli 
B.  Johnson,  1  looking-glass,  at  $6.00.  24th.  Sold  James 
II.  Hooker  3£  Ibs.  soap,*~at  6c.,  and  10  Ibs.  candles,  at 
12£c.  26th.  Sold  Henry  L.  Fulton  24  yds.  calico,  at  10c., 
3  Ibs.  batting,  at  12c.,  and  thread,  at  lOc. ;  William  W. 
Hart,  3  yds.  ribbon,  at  25c.,  and  f  yd.  silk,  at  $1.00.  27th. 
Sold  John  R.  Smith  10  Ibs.  nails,  at  5c.,  8  Ibs.  cod-fish,  at 
4c. ;  and  he  has  paid  me  cash,  $15.00.  29th.  Sold  Lemuel 
Potter  10  yds.  French  calico,  at  18c. ;  Berkley  Gillett,  10 
Ibs.  crushed  sugar,  at  lie.,  and  1  Ib.  Young  Hyson  tea,  at 
75c. ;  Eli  B.  Johnson,  1  pair  morocco  buskins,  at  $1.13. 
31st.  Henry  L.  Fulton  has  paid  me  cash,  $15.00.  Sold 
William  W.  Hart  10  yds.  curtain  calico,  at  15c. ;.  Berkley 
Gillett,  2  yds.  broadcloth,  at  $4.50,  £  yd.  padding,  at  38c.,  \ 
yd.  silk  serge,  at  $1.13,  2  yds.  twist,  at  4c. ;  and  he  has 
paid  me  cash,  $20.00.  Sold  Levi  S.  Fulton  10  Ibs.  sugar, 
at  10c.,  9  yds.  gingham,  at  25c.,  5  Ibs.  raisins,  at  15c,  1 
oz.  nutmegs,  at  13c.,  and  1  oz.  cloves,  at  12c.  Examined. 


INDEX    AND    LEDGER, 


DOUBLE    ENTRY. 


B 


c 


,  w™.  &. 


E 


F 

C/?      ;    CJ? 

,  *=23&in,  t.x  . 


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v?                 S 

v  § 

II 

nj 

§  ^  §  §l§  II 

*  •§  ^ 

V  «o    ^    V 

H 

1^4* 

V 


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"So       *•* 


1 


s 


8> 


^ 

(§) 


^ 


5 


226 


\s 


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3 


<a\ 


V 


S 


N; 


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V 


^ 

228 


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5? 


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230 


. 


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234 


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236 


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231 


MONTHLY  CASH-BOOK. 

The  transactions  for  one  month  being  sufficient  to  illus 
trate  the  manner  of  keeping  the  Monthly  Cash-Book,  we 
will  therefore  simply  give  the  sum  total  of  the  receipts 
and  disbursements  for  the  remaining  months,  as  follows: 
Receipts  — February,  $912.50;  March,  $1,359.13;  dis 
bursements— February,  $351.80;  March,  $2,070.13,  which 
should  be  posted  to  the  Cash  account  in  the  Ledger.  For 
form  see  next  page. 


r 
on  Stfccownt—  ®5-50 


autee,  on  Account 50.00 

.    445.26 


•r    ^(/&&'i>c>ti<zn(u<!)e  «_7#<fe«# 

on  Sficcownt--  ----> 6S.S5 


r         euuvntu $442.50 

in   *%>om*ne*da/  £$an£. 4 $00.00 


238 


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<\$ 


.  § 


$ 

J 


V 


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N        N        X 


X         \         S 


11 


§ 


240 


MERCHANDISE-BOOK. 

The  transactions  for  one  month  being  sufficient  to  illus 
trate  clearly  the  manner  of  keeping  the  Merchandise-Book, 
we  will  therefore  merely  give  the  sum  total  of  the  pur 
chases  and  sales  the  remaining  months,  as  follows :  Pur 
chases—February,  $614.91 ;  March,  $254.33  :  sales— Feb 
ruary,  $989.05  ;  March,  $1,389.73,  which  should  be  posted 
to  the  Merchandise  account  in  the  Ledger.  For  form,  see 
next  page. 


356.63 
74.74 


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on  Qrccount 402  05 


45$ 


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241 


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31 


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, 

tote 


The  transactions  for  one  month  will  sufficiently  illus 
trate  the  object  and  manner  of  keeping  this  book.  The 
store  expenses  for  February  were  $115.26,  and  for 
March  $127.63,  which  should  be  posted  to  the  Expense 
Account  in  the  Ledger. 


245 


404 


246  BOOK-KEEPING* 


RULES. 

We  give  some  rules  that  will  be  found  very  useful ;  let 
the  pupil  commit  them  to  memory,  and  make  himself  pro 
ficient  in  them  by  solving  the  example  that  follows  the 
rules : 

RULE  1.  To  find  the  gain  or  loss  during  business — find 
the  capital  at  commencing,  and  the  capital  at  clos 
ing  business,  the  difference  if  the  capital  at  closing 
be  the  larger  will  be  the  Net  Gain ;  the  difference 
if  the  capital  at  commencing  be  the  larger  will  be 
the  Net  Loss, 

RULE  2.  To  find  the  net  capital  of  the  Firm,  or  of  any 
member  of  the  Firm — add  the  Net  Gain,  if  there 
is  a  gain,  to  his  Net  Investment;  or  if  there  is  a  loss, 
subtract  that  from  the  Net  Investment. 

RULE  3.  The  difference  between  the  liabilities  and  re 
sources  is  the  "  Present  Worth." 

EXAMPLE  I. 

A  merchant  invests  $2,000  in  business.  At  the  close 
of  a  month  he  draws  the  following  information  from  his 
books.  Cash  received,  $500 ;  Paid  out,  $150 ;  A.  owes  him 
$40  ;  C.  owes  him  $60;  B.  has  a  debit  of  $200,  and  a  credit 
of  $700;  Merchandise  on  hand,  per  Inventory,  $2,100; 
Notes  Receivable,  $600  ;  Notes  Payable,  $200.  Required 
present  worth  and  Net  Gain  or  Loss. 

Let  the  teacher  give  to  the  pupil  several  examples 
involving  the  above  principles. 


247 


PART  THIRD. 


BOOKS   OF  ACCOUNT. 

IT  is  a  well-established  and  salutary  rule,  that  a  person  shall  not 
be  permitted  to  testify  for  himself,  or  in  other  words,  manufacture  his 
own  testimony.  Yet  there  is  an  exception  to  this  rule.  From  the 
necessity  of  some  cases,  the  law  allows  a  person  to  furnish  testimony 
for  himself,  by  admitting  his  books  of  account,  under  certain  restric 
tions,  as  evidence  in  his  favor. 

Such  testimony,  however,  is  liable  to  the  strictest  scrutiny,  and  is 
considered  by  courts  as  the  most  suspicious  kind,  and  as  little  better 
than  the  declarations  of  the  party  in  his  own  favor. 

To  entitle  a  person's  books  to  be  received  in  evidence,  he  would 
have  to  prove  the  following  facts. 

1st.  That  he  had  no  clerk. 

2d.  That  the  books  produced  are  his  account-books. 

3d.  That  some  of  the  articles  charged  have  been  delivered. 

4th.  That  he  keeps  fair  and  honest  accounts;  and  this  he  must 
show  by  those  who  have  dealt  and  settled  with  him. 

Account-books  are  not  received  as  evidence  of  money  lent,  or 
money  received  or  expended  for  the  use  of  another;  nor  are  they 
evidence  of  a  single  charge. 

If  the  entries  in  a  book  were  made  by  a  clerk,  and  he  be  dead,  on 
showing  that  fact,  and  proving  his  handwriting,  and  that  he  was  a 
clerk  of  the  party,  such  entries  would  be  received  as  evidence. 


BILLS  OF   EXCHANGE. 

A  Bill  of  Exchange  is  an  open  letter  of  request,  addressed  by  one 
person  to  a  second,  desiring  him  to  pay  a  sum  of  money  to  a  third,  or 
to  any  other  to  whom  that  third  person  shall  order  it  to  be  paid  ;  or  it 
may  be  made  payable  to  bearer. 

Bills  of  Exchange  are  very  useful  to  business  men,  who  wish  to 
send  large  sums  of  money  to  individuals  living  at  a  distance  from 
11* 


248  BILLS   OP   EXCHANGE. 

them.  "If  A.  living  in  New  York,  wishes  to  receive  $1,000  which 
B.  in  London,  owes  him,  he  applies  to  C.,  who  is  going  from  New 
York  to  London,  to  pay  him  $1,000,  and  take  his  order  or  draft  on  B.t 
for  that  sum,  payable  at  sight.  A.  receives  his  debt  by  transferring  it 
to  0.,  who  carries  his  money  across  the  Atlantic,  in  the  shape  of  a  Bill 
of  Exchange,  without  any  danger  or  risk  in  the  transportation ;  and 
on  his  arrival  at  London,  he  presents  the  Bill  to  B.  and  is  paid." 

The  person  who  makes  the  bill  is  called  the  drawer ;  he  to  whom 
it  is  addressed,  the  drawee;  and  when  he  undertakes  to  pay  the 
amount,  he  is  then  called  the  acceptor.  The  person  to  whom  it  is 
ordered  to  be  paid  is  called  the  payee ;  and  if  he  appoint  another  to 
receive  the  money,  that  other  is  called  the  endorsee,  as  the  payee  is, 
with  respect  to  him,  the  endorser;  any  one  who  happens  for  the  time 
to  have  the  legal  possession  of  the  bill,  is  called  the  holder  of  it. 

A  bill  is  either  foreign  or  inland.  It  is  called  foreign  when  drawn  by 
a  person  in  one  state  or  country,  upon  one  in  another  state  or  country ; 
and  inland,  when  both  drawer  and  drawee  reside  in  the  same  state. 
These  are  generally  termed  drafts. 

Foreign  bills  are  usually  drawn  in  sets ;  that  is  copies  of  the  bill  are 
made  on  separate  pieces  of  paper,  each  part  containing  a  condition  that 
it  shah1  continue  payable  only  so  long  as  the  others  remain  unpaid. 
"Whenever  any  one  of  a  set  is  paid,  the  others  are  void ;  for  the  whole 
set  constitute  but  one  bill.  The  reason  for  drawing  them  in  sets  is, 
that  in  case  one  part  is  lost  or  accidentally  destroyed,  the  other  may 
be  received  by  the  drawee. 

OP   THE   REQUISITES   OF   A  BILL. 

A  Bill  of  Exchange  must  always  be  in  writing.  It  is  not  necessary 
that  it  should  be  written  in  ink  ;  it  may  be  in  pencil  mark.  No  precise 
form  of  words  is  necessary.  It  will  be  sufficient  if  it  contain  an  order 
or  direction  by  one  person  to  another,  to  pay  money  to  a  third.  It 
must  be  for  the  payment  of  money,  and  money  only ;  and  the  sum  to 
be  paid  must  be  payable  absolutely  and  at  all  events,  and  must  not 
depend  upon  any  circumstance  that  may,  or  may  not  happen ;  the 
exact  sum  also  must  be  inserted.  The  place  where,  and  on  which 
it  is  drawn,  should,  in  general,  appear  upon  the  face  of  the  bill ;  there 
should  also  be  a  date,  though  its  omission  would  not  render  the  bill 
invalid.  The  time  when  bills  are  payable  should  be  fixed ;  usually 
they  are  drawn  payable  at  a  certain  time  after  date  or  after  sight ;  that 
iL.  after  acceptance. 

It  is  not  essential  to  the  validity  of  a  bill  that  it  be  negotiable,  or 


BILLS    OF   EXCHANGE.  249 

that  it  contain  the  words  "value  received,"  although  in  many  cases 
it  is  highly  important  that  these  words  be  inserted. 

OF   THE   OBLIGATIONS   OP   PARTIES. 

The  drawer's  undertaking  in  a  Bill  of  Exchange  is,  that  the  drawee, 
upon  due  presentment  to  him,  shall  accept  such  bill,  and  pay  the  same 
when  due  ;  and  that  if  the  drawee  do  not  accept  it,  or  pay  it  when  due, 
he  will  pay  the  amount  of  the  bill  to  the  holder,  together  with  certain 
damages  which  the  law  allows ;  provided  he  is  duly  notified  of  such 
non-payment. 

It  is  the  payee's  duty,  if  the  bill  remain  in  his  possession,  to  present 
it  to  the  drawee  for  acceptance  and  for  payment  at  the  proper  time  and 
place,  and  in  case  the  drawee  refuse  to  accept  or  pay,  to  give  notice 
without  delay  to  the  drawer  of  such  refusal.  If  the  payee  endorse  the 
bill,  his  undertaking,  in  regard  to  all  subsequent  holders,  is  exactly  the 
same  as  the  drawer's. 

The  obligations  of  the  endorsee  or  holder,  are  the  same  as  those  of 
the  payee  previous  to  his  endorsing  the  bill. 

The  acceptor  undertakes,  and  is  bound  to  pay  the  bill,  according  to 
the  tenor  of  the  acceptance,  when  it  becomes  due,  and  upon  due  pre 
sentment  thereof.  In  short,  all  those  who  have  signed,  accepted,  or 
endorsed  a  bill  of  exchange,  are  jointly  and  severally  liable  upon  it  to 
the  holder. 

OF    TRANSFER. 

A  bill  which  does  not  contain  a  direction  or  request  to  pay  to  the 
order  of  the  payee  or  to  the  bearer,  is  not  negotiable  or  transferable,  so 
as  to  render  the  drawer  or  acceptor  liable  to  the  person  to  whom  it  is 
transferred,  though  the  payee  would  be  liable  on  his  endorsing  such  a 
bill,  and  the  endorsee  could  recover  against  him. 

A  bill  which  is  made  payable  to  order,  is  transferable  only  by  en 
dorsement  ;  but  if  payable  to  bearer,  it  is  transferable  by  mere  delivery. 
Endorsements  are  of  two  kinds — blank,  and/wZZ  or  special  endorsements. 
A  blank  endorsement  is  made  by  the  mere  signature  of  the  endorser 
on  the  back  of  the  bill ;  and  if  it  be  the  signature  of  the  payee,  its 
effect  is  to  make  the  bill  thereafter  payable  to  bearer. 

An  endorsement  in  full  expresses  in  whose  favor  the  endorsement  is 
made.  Thus  an  endorsement  hi  full  by  A.  B.  is  usually  in  this  form : 
"Pay  C.  D.  or  order,"  and  signed  "A.  B."  Its  effect  is  to  make  the 
bill  payable  to  C.  D.,  or  his  order  only. 

An  endorsee  has  a  right  to  convert  a  blank  endorsement  into  a 
special  one,  by  writing  over  the  signature  the  necessary  words;  and 


250  BILLS    OF    EXCHANGE. 

on  the  other  hand  he  may  convert  a  special  into  a  blank  endorsement 
by  striking  out  the  words  that  made  it  an  endorsement  in  full 

OF  PRESENTMENT  FOR  ACCEPTANCE. 

If  a  bill  be  drawn  payable  at  sight,  or  at  a  certain  period  after  sight, 
or  after  demand,  it  is  absolutely  necessary  that  the  holder  present  it 
to  the  drawee  for  acceptance.  For  until  such  presentment  there  ia 
no  right  of  action  against  any  party;  and  generally,  unless  it  be  made 
within  a  reasonable  time,  the  holder  loses  his  remedy  against  the  ante 
cedent  parties. 

OF  ACCEPTANCE. 

An  Acceptance  is  an  engagement  by  the  drawee  to  pay  the  bill 
when  due.  It  may  be  general  or  conditional,  and  either  before  or 
after  the  bill  is  drawn.  It  must  be  in  writing,  though  no  precise  form 
is  necessary ;  any  written  words  clearly  denoting  an  intention  to  ac 
cept  the  bill  are  sufficient. 

The  holder  is  entitled  to  require  from  the  drawee  an  absolute  en 
gagement  to  pay  according  to  the  tenor  of  the  bill,  unencumbered 
with  any  condition  or  qualification.  If  the  drawee  refuse  to  give  the 
holder  a  general  and  unqualified  acceptance,  he  may  treat  the  bill  as 
dishonored. 

A  bill  is  said  to  be  honored  when  it  is  duly  accepted ;  and  when  ac 
ceptance  or  payment  is  refused,  it  is  said  to  be  dishonored. 

OF   PROCEEDINGS   ON   NON-ACCEPTANCE. 

Immediately  upon  the  dishonor  of  a  bill,  by  the  refusal  of  the 
drawee  to  accept  it,  it  is  in  general  the  indispensable  duty  of  the 
holder  to  have  the  bill  duly  protested,  and  notice  of  such  dishonor  and 
protest  given  to  the  antecedent  parties  to  whom  he  intends  to  look  for 
indemnity. 

The  protest  is  generally  drawn  up  by  a  notary  public;  it  is  a  solemn 
declaration  against  any  loss  to  be  sustained  on  the  part  of  the  holder 
by  the  non-acceptance  or  non-payment  of  the  bill.  In  respect  to  in 
land  bills,  a  protest  is  not  absolutely  necessary,  although  it  is  usual ; 
notice  of  their  dishonor,  however,  must  be  given  by  the  holder  to  tho 
antecedent  parties,  in  order  to  make  them  responsible. 

Upon  non-acceptance  of  a  bill,  if  due  notice  thereof  has  been  given 
to  the  antecedent  parties,  the  holder  can  insist  upon  immediate  pay- 
meat  of  the  bill  from  them, 


BILLS    OF   EXCHANGE.  251 

OF  PRESENTMENT  FOB  PAYMENT. 

If  the  bill  has  been  duly  accepted,  it  is  the  duty  of  the  holder  to 
present  it  to  the  acceptor  for  payment  on  the  very  day  on  which  it 
becomes  due ;  and  if  the  bill  was  accepted  payable  at  a  particular 
place,  the  holder  is  bound  to  make  a  demand  of  payment  at  that  place. 
For,  if  the  holder  neglect  to  present  the  bill  at  such  time  and  place, 
he  cannot  recover  against  the  drawer  or  endorser  in  case  the  acceptor 
refuses  payment. 

In  determining  when  a  bill  becomes  due,  days  of  grace,  as  they  are 
called,  must  be  allowed.  In  this  country  three  days'  grace  are  given 
on  all  biUs  except  those  payable  on  demand.  Demand  of  payment 
must  not  be  made,  therefore,  until  the  third  day  of  grace,  unless  such 
day  be  Sunday,  Fourth  of  July,  or  some  other  holiday,  in  which,  case 
demand  must  be  made  on  the  second  day  of  grace. 

OF  PROCEEDINGS  ON  NON-PAYMENT. 

The  duties  of  the  holder,  upon  dishonor  of  a  bill  by  non-payment, 
are  the  same  as  upon  dishonor  by  non-acceptance.  He  must  make 
due  protest  for  non-payment,  and  give  due  notice  of  the  dishonor  to 
the  other  parties  to  the  bill ;  in  which  case  the  holder  is  entitled  to  a 
full  satisfaction  of  all  damages  sustained  by  him  by  reason  of  the  dis 
honor,  against  such  other  parties  to  the  bill ;  but  if  he  neglect  to  do 
this,  the  antecedent  parties  are  discharged  from  all  liability  to  the 
holder 

OF   PAYMENT   AND   OTHER   DISCHARGES. 

The  acceptor  being  primarily  liable  on  a  bill  of  exchange,  it  is  evident 
that  a  payment  by  him  to  the  holder  discharges  all  the  other  parties 
from  liability  on  the  bill,  provided  the  payment  is  made  without  knowl 
edge  of  any  infirmity  in  the  title  of  the  holder,  and  the  names  of  the 
parties  to  the  bill  are  not  forgeries.  Payment  by  the  acceptor  should 
be  made  at  maturity,  and  not  before. 

The  drawer  and  endorsers  will  be  discharged  from  liability  by  a 
valid  and  binding  agreement  (in  which  they  do  not  concur)  between 
the  holder  and  acceptor,  whereby  time  is  given  to  the  acceptor  for  the 
payment  of  the  bill  after  it  is  due. 

A  discharge  to  the  acceptor,  we  have  seen,  is  a  discharge  to  all  the 
parties  to  the  bill ;  but  a  discharge  to  an  indorser  is  no  discharge  to 
the  prior  endorsers,  though  it  is  to  the  subsequent  endorsers. 


252  PEOMISSOEY   NOTES. 

FOEM  OF  A   SET  OF  BILLS  OF  EXCHANGE. 
Exch.  $1,000. 

NEW  YORK,  Jan.  1,  1848. 

Thirty  days  after  sight  of  this,  my  first  of  exchange  (second  and 
third  unpaid),  pay  to  the  order  of  II.  B.  Williams  &  Co.,  one  thousand 
dollars,  and  place  the  same  to  my  account. 

L.  S.  F. 

To  Messrs.  Jones  &  Clark, 
New  Orleans. 

Exch.  $1,000. 

NEW  YORK,  Jan.  1,  1848. 

Thirty  days  after  sight  of  this,  my  second  of  exchange  (first  and 
third  unpaid),  pay  to  the  order  of  H.  B.  Williams  &  Co.  one  thousand 
dollars,  and  place  the  same  to  my  account. 

L.  S.  F. 

To  Messrs.  Jones  &  Clark, 
New  Orleans. 

Exch.  $1,000. 

NEW  YORK,  Jan.  1,  1848. 

Thirty  days  after  sight  of  this,  my  third  of  exchange  (first  and 
second  unpaid),  pay  to  the  order  of  H.  B.  Williams  &  Co.  one  thousand 
dollars,  and  place  the  same  to  my  account. 

L.  S.  F. 

To  Messrs.  Jones  &  Clark, 
New  Orleans. 


FORM   OF   A   DRAFT   OR   INLAND   BILL. 
$500. 

LYONS,  Jan.  1,  1848. 
Ten  days  from  sight  pay  to  the  order  of  Nathan  Brittan  five  hundred 

dollars,  value  received,  and  place  the  same  to  my  account. 

L.  S.  F. 
To  H.  M.  Kichardson, 

Bochester. 


PROMISSORY  NOTES. 

A  promissory  note  is  an  engagement  in  writing  to  pay  a  certain 
sum  of  money  mentioned  in  it  to  a  person  named,  or  to  his  order,  or 
to  such  person  or  bearer. 

A  note,  in  its  original  form  of  a  promise  from  one  person  to  pay  a 
sum  of  money  to  another,  bears  no  particular  resemblance  to  a  bill  of 


PKOMISSORY  NOTES.  253 

exchange  ;  but  when  it  is  endorsed  there  is  a  very  great  resemblance, 
for  then  it  is  an  order  by  the  endorser  to  the  maker  of  the  note,  to  pay 
the  money  to  the  endorsee.  The  endorser  of  the  note  corresponds  to 
the  drawer  of  the  bill ;  the  maker  to  the  drawee  or  acceptor ;  and  the 
endorsee  to  the  payee.  The  rights  and  obligations  of  these  correspond 
ing  parties  are  nearly  or  quite  the  same.  It  will  not  be  necessary, 
therefore,  to  repeat  all  the  rules  that  are  applicable  to,  and  govern  the 
parties  to  a  promissory  note  ;  we  wiU,  however,  state  the  principal  ones. 
And  first,  of  the  requisites  of  promissory  notes. 

No  precise  form  of  words  is  necessary  to  constitute  a  valid  promissory 
note.  A  promise  to  account  for  a  certain  sum,  or  an  acknowledgment 
of  indebtedness  for  value  received,  is  sufficient. 

Like  blUs  of  exchange,  they  must  be  for  the  payment  of  money  only, 
and  not  for  the  performance  of  some  other  act ;  and  the  amount  to  be 
paid  must  be  fixed  and  not  variable,  and  must  not  depend  upon  any 
contingency,  but  must  be  payable  absolutely  and  at  all  events. 

There  should  be  no  uncertainty  as  to  the  person  by  whom  or  to 
whom  it  is  payable.  Therefore  a  note  payable  to  A.  B.,  or  to  C.  D.,  is 
not  a  valid  promissory  note. 

A  note  payable  to  bearer  generally,  or  to  the  payee  or  bearer,  is 
transferable  by  mere  delivery ;  and  possession  of  such  a  note  is  prima 
facie  proof  of  title.  But  if  a  note  be  drawn  payable  to  the  order  of 
the  payee,  the  title  will  pass  only  by  the  endorsement  of  the  payee  ; 
and  if  the  endorsement  be  in  full,  the  title  passes  to  the  person  named 
therein;  but  if  it  be  in  blank,  it  passes  to  the  holder  by  delivery 
merely. 

To  make  a  note  payable  at  a  particular  place,  it  is  not  sufficient  that 
there  be  a  memorandum  of  the  place  at  the  bottom  or  margin  thereof, 
but  it  must  be  expressed  in  the  body  of  the  note  itself,  and  form  a  part 
thereof. 

The  words  "value  received"  are  not  essential  to  the  validity  of  a 
promissory  note,  although  they  should  be  inserted. 

A  note  may  be  made  by  two  or  more  persons ;  and  in  that  case 
may  be  joint,  or  joint  and  several,  according  to  its  form.  The  makers 
of  a  joint  and  several  note  may  be  sued  upon  it  either  jointly  or  sep 
arately  ;  and  if  sued  separately,  a  recovery  of  judgment  (without  satis 
faction)  against  one  will  not  be  a  bar  to  a  recovery  against  another 
maker.  But  the  makers  of  a  joint  note  should  be  sued  jointly ;  for  if 
they  are  sued  separately  the  action  can  be  defeated  by  a  plea  in 
abatement  of  the  non-joinder  of  the  other  maker  or  makers. 

A  note  signed  by  two  or  more  persons  written  thus,  "  We  promise 


254  PROMISSORY    NOTES. 

to  pay,"  &c.,  is  a  joint  note  only;  otherwise,  if  the  words  "jointly  and 
severally"  be  added.  A  note  written,  "  I  promise  to  pay,"  &c.,  signed 
by  two  or  more  persons,  is  a  joint  and  several  note. 

If  a  person  at  the  time  a  negotiable  note  is  made,  write  on  the  back 
of  it,  "I  guarantee  the  payment  of  the  within  note."  he  will  be  treated 
as  a  joint  and  several  promisor  with  the  maker  thereof,  and  not  as  a 
mere  guarantor.  But  if  the  endorsement  be  made  at  a  subsequent  time, 
or  be  a  guarantee  of  collection  instead  of  payment,  the  endorser  would 
be  considered  as  a  guarantor ;  a  consideration,  however,  in  these  last 
cases,  must  be  expressed;  that  is,  the  words  "for  value  received" 
should  be  inserted  in  the  endorsement. 

If  a  note  be  endorsed  thus,  "For  value  received,"  or  "For  a  valu 
able  consideration  I  guarantee  the  collection  of  the  within  note,"  the 
guarantor  would  not  be  liable  upon  it,  unless  the  holder  showed  a 
diligent  attempt  to  collect  it. 

An  agreement  for  a  valid  consideration,  extending  to  a  principal  the 
time  of  payment  of  a  debt,  discharges  the  sureties.  But  an  agreement 
for  delajr,  made  witliout  consideration,  between  the  principal  debtor  and 
the  creditor,  will  not  discharge  the  surety ;  nor  will  negligence  of  the 
creditor  in  calling  upon  the  principal  for  payment  discharge  the  surety, 
unless  he  be  damnified  by  such  negligence. 

All  who  have  signed  or  endorsed  a  note,  are  jointly  and  severally 
liable  to  the  holder. 

•      CONSIDERATION. 

A  valuable  consideration  is  necessary  to  support  a  promissory  note. 
A  consideration  founded  on  mere  love  or  affection  is  not  sufficient. 
Thus,  a  note  drawn  as  a  gift  to  a  son  or  other  relative,  or  to  a  friend, 
cannot  be  enforced  as  between  .the  original  parties. 

A  mere  moral  obligation,  though  coupled  with  an  express  promise, 
is  not  sufficient  consideration  to  support  a  note.  A  consideration  which 
tho  law  esteems  valuable  must  exist,  in  order  to  furnish  a  just  founda 
tion  for  an  action. 

A  note  will  be  void,  as  between  the  original  parties,  if  founded  upon 
fraud  or  duress,  or  where  undue  advantage  was  taken  to  obtain  it  of 
the  maker ;  as,  for  instance,  getting  the  maker  intoxicated  for  the  pur 
pose  of  obtaining  his  note. 

Illegal  consideration  also  will  render  a  note  void ;  as,  when  a  note 
is  given  for  the  perpetration  or  concealment  of  a  crime,  or  for  a  wager, 
or  whenever  the  consideration  is  founded  upon  a  transaction  against 
sound  morals,  public  policy,  public  rights,  or  public  interests.  There 


PKOMISSOEY   NOTES.  255 

are,  however,  but  two  cases  in  which  a  note  is  void  in  the  hands  of  an 
innocent  endorser  for  a  valuable  consideration ;  and  these  cases  are,  when 
the  consideration  in  the  note  is  money  won  at  a  play,  or  where  the 
note  is  given  for  a  usurious  debt. 

ON  PRESENTMENT   FOR   PAYMENT. 

The  contract  of  the  maker  being  to  pay  the  note  upon  due  pre 
sentment  at  maturity,  in  order  to  charge  the  endorsers,  it  is  the  duty 
of  the  holder  to  demand  payment  of  the  maker  on  the  very  day  on 
which  bylaw  the  note  becomes  due;  and  unless  the  demand  be  so 
made  the  holder  loses  his  remedy  against  the  endorsers,  although  the 
maker  would  still  be  liable.  The  rules  that  were  given  to  determine 
when  bills  of  exchange  become  due  apply  as  well  to  notes.  Three 
days'  grace  are  allowed  on  all  notes  except  those  payable  on  demand, 
and  those  in  which  no  time  of  payment  is  expressed ;  on  such  no  days 
of  grace  are  allowed. 

"When  a  note  is  made  payable  at  any  particular  place,  as,  for  instance, 
at  a  certain  bank,  due  presentment  must  be  made  at  that  place  in 
order  to  render  the  endorsers  liable  hi  case  of  non-payment.  Notes 
payable  at  a  particular  bank,  are  generally  left  with  that  bank  for 
payment. 

If  the  note  is  payable  generally,  without  any  specification  of  place, 
the  holder  may  present  it  for  payment  to  the  maker  wherever  he  may 
be  found ;  but  it  is  not  absolutely  necessary  that  a  personal  demand 
be  made ;  a  demand  at  the  maker's  place  of  abode  or  business,  is  a 
good  demand  in  some  cases.  The  holder  must  use  reasonable  dili 
gence  hi  finding  the  maker,  or  his  place  of  abode,  or  place  of  business, 
in  order  to  charge  the  endorsers.  But  the  maker  is  liable  without 
such  demand. 

PROCEEDINGS   ON   NON-PAYMENT. 

No  protest  is  required  to  be  made  upon  the  dishonor  of  a  note; 
although  it  is  common  to  protest  them  for  non-payment,  especially  in 
commercial  towns.  But  in  every  case  of  the  dishonor  of  a  note,  it  is 
the  duty  of  the  holder  to  give  due  notice  thereof  to  all  the  prior  parties 
on  the  note  to  whom  he  means  to  look  for  payment ;  for  the  holder 
cannot  recover  against  a  party  to  whom  he  has  failed  to  give  due 
notice  of  the  dishonor. 

OF   PAYMENT. 

If  the  maker  makes  due  payment  of  a  note  to  a  bona  fide  holder, 
it  will  amount  to  a  complete  discharge  of  all  other  parties  thereon. 


256  PEOMISSOKY   NOTES. 

But  when  payment  is  duly  made  by  an  endorser  to  the  holder,  such 
endorser,  as  a  general  rule,  will  retain  his  right  to  recover  over  against 
all  the  antecedent  parties  to  the  note,  until  he  has  received  a  full 
indemnity ;  such  payment,  however,  will  discharge  all  the  endorsers 
subsequent  to  himself. 

INTEREST. 

Interest  is  recoverable  on  a  promissory  note  in  which  there  is  no 
special  agreement  to  pay  interest,  from  the  time  when  the  principal 
becomes  due,  or  ought  to  have  been  paid.  A  note  payable  on  demand 
carries  no  interest  till  a  demand  is  made,  either  by  suit  or  otherwise, 
unless  there  is  an  agreement  to  pay  interest.  A  note  not  on  demand,  in 
which  no  time  of  payment  is  mentioned,  draws  interest  from  date. 

Whenever  there  is  a  special  agreement  to  pay  interest,  that  is, 
when  the  words  "with  use,"  or  "with  interest,"  &c.,  are  contained  in 
the  note,  it  draws  interest,  of  course,  according  to  such  agreement  or 
contract. 

A  note  is  said  to  be  outlawed  in  six  years  from  the  time  it  becomes 
due.  The  statute  requires  that  all  actions  founded  upon  any  iaetrument 
or  contract  not  under  seal,  must  be  commenced  within  six  years  next 
after  the  cause  of  action  accrued,  and  not  after. 

FORMS  OF  PROMISSORY  NOTES. 
(I-) 

Nine  months  from  date,  for  value  received,  I  promise  to  pay  H.  M. 
Richardson,  or  bearer,  one  hundred  dollars  with  interest. 

L.  S.  FAINSTOCK. 
Lyons,  Aug.  1,  1848. 

(2.) 

On  the  first  day  of  January,  1849,  for  value  received,  I  promise  to 
pay  L.  S.  Fulton,  or  order,  one  hundred  dollars. 

SAMUEL  TOOK. 

(3.) 

On  demand,  for  value  received,  I  promise  to  pay  H.  M.  Richardson, 
or  bearer,  one  hundred  and  ninety-two  dollars  and  sixty  cents. 

ALEX.  HAMILTON. 
Lyons,  Jan.  1,  1849. 


CHATTEL  NOTES.  257 

(4-) 

For  value  received,  I  promise  to  pay  L.  S.  Fulton,  or  order,  one  hun 
dred  and  fifty  dollars. 

JOHN  JONES. 
Lyons,  Aug.  1,  1848. 

(5.) 

Ninety  days  after  date,  for  value  received,  I  promise  to  pay  H.  M. 
Kichardson,  at  the  Baok  of  Geneva,  one  hundred  and  twenty-five 
dollars. 

S.  S.  SAMPSON. 
Lyons,  Aug.  1,  1848. 

(6.) 

JOINT   NOTE. 

Three  months  after  date,  for  value  received,  we  jointly  and  severally 
promise  to  pay  to  the  order  of  L.  S.  Fulton,  one  hundred  dollars  with 
interest. 

SAMUEL  SAMPSON. 

Lyons,  Aug.  1,  1848.  JAMES  JAMESON. 


DUE-BILL. 

Due,  Lyons,  Jan.  1.  1848,  Levi  S.  Fulton  one  hundred  and  forty-seven 
dollars. 

SAMUEL  SAMMERS. 

Notes  Nos.  1,  4,  6,  and  7  draw  interest  from  their  date  ;  Nos.  2  and 
5  from  the  time  of  payment  mentioned  in  them  ;  and  No.  3  from  the 
time  a  demand  is  made. 


CHATTEL  NOTES. 

"We  have  seen  that  hi  order  to  constitute  a  promissory  note  it  must 
be  for  the  payment  of  money  only ;  if  then  a  note  be  payable  otherwise 
than  in  money,  it  is  called  a  chattel  note.  Chattel  notes  are  not  nego 
tiable,  and  cannot  be  sued  except  in  the  name  of  the  payee.  No  days 
of  grace  are  allowed  upon  them. 

It  is  the  duty  of  the  maker  of  a  chattel  note  payable  in  specific  arti 
cles,  at  a  place  mentioned  in  the  note,  to  tender  the  articles  at  that 
place,  and  at  the  time  the  note  becomes  due.  If  the  maker  neglect  to 
make  such  tender,  he  will  be  liable  to  the  payee  to  pay  him  the  amount 


258 


X 


259 


260  CHECKS    ON    BANKS    AND    BANKEKS. 

of  the  note  in  money.  But  if}  on  the  other  hand,  the  maker  tender  the 
articles  mentioned  in  the  note,  at  the  proper  time  and  place,  according 
to  the  contract,  and  the  creditor  neglects  or  refuses  to  receive  them, 
the  debt  is  thereby  discharged ;  but  the  right  of  property  in  the  arti 
cles  tendered  passes  to  the  creditor.  The  debtor  may  abandon  the 
goods  tendered ;  but  if  he  elects  to  retain  possession  of  them,  he  will 
be  considered  as  bailee  of  the  creditor  at  his  (the  creditor's)  risk  and 
expense.  The  relation  of  debtor  and  creditor  would  in  such  case  be 
changed  to  that  of  bailor  and  bailee. 

There  is  a  difference  as  to  tender  between  portable  and  cumbrous  arti 
cles.  With  respect  to  the  former,  a  tender  as  above  must  be  made;  as 
to  the  latter,  it  will  be  sufficient  if  the  debtor  offer  to  deliver  as  the 
creditor  shall  direct. 

FORMS  OF  CHATTEL  NOTES. 

Three  months  after  date,  I  promise  to  pay  to  C.  D.,  or  order,  one 
hundred  bushels  of  good  merchantable  wheat,  to  be  delivered  at  the 
residence  of  said  C.  D. 

A.B. 

Rochester,  Aug.  1,  1848. 

$75. 

Four  months  from  date,  I  promise  to  pay  to  G.  D.,  or  bearer,  at  my 
place  of  residence  in  this  city,  seventy-five  dollars'  worth  of  sound  and 
merchantable  winter  apples. 

A.B. 

Rochester,  August  1,  1848. 


CHECKS  ON  BANKS  AND  BANKERS. 

A  Check  is  a  written  order  addressed  to  a  bank,  or  to  persons  carry 
ing  on  the  business  of  bankers,  by  a  person  'having  money  in  their 
hands,  requesting  them  to  pay  to  another  person,  or  to  his  order,  a 
certain  sum  of  money  mentioned  in  the  check. 

Checks  differ  from  Bills  of  Exchange  in  the  following  respects : 

1st.  They  are  always  drawn  on  a  bank,  or  on  bankers,  and  are  pay 
able  immediately  on  presentment,  without  any  days  of  grace. 

2d.  They  require  no  acceptance  as  distinct  from  payment. 

3d.  They  are  always  supposed  to  be  drawn  upon  a  previous  deposit 
of  funds. 

In  order  to  make  the  drawer  liable,  in  case  the  check  is  dishonored, 


EECEIPTS.  261 

the  holder  must  present  it  for  payment  within  a  reasonable  time,  and 
if  dishonored,  must  give  the  drawer  notice  thereof  within  a  reasonable 
time  also. 


CHECK. 

August  1,  1848. 

Cashier  Rochester  City  Bank,  pay  H.  M.  Richardson,  or  bearer,  two 
thousand  five  hundred  dollars. 

R.  L.  BRAYTON. 
$2,500. 


RECEIPTS. 

A  receipt  in  full,  though  strong  evidence,  is  not  conclusive ;  and  a 
party  signing  such  receipt  will  be  permitted  to  show  a  mistake  or  er 
ror  therein,  if  any  exist. 

Receipts  for  the  payment  of  money  are  open  to  examination,  and 
may  be  varied,  explained,  or  contradicted,  by  parol  testimony. 


GENERAL  FORM  OF  A  RECEIPT  ON  ACCOUNT. 
$50. 

ROCHESTER,  August  1,  1848. 
Received  of  C.  D.  fifty  dollars,  to  apply  on  his  account. 

A.  B. 


RECEIPT  IN  FULL. 
$110  10. 

ROCHESTER,  August  1,  1848. 

Received  of  C.  D.,  one  hundred  ten  dollars  and  ten  cents,  in  full  of 
all  demands  against  him. 

A.  B. 


RECEIPT  FOR  MONET  PAID  BY  THIRD  PERSONS. 
$100. 

ROCHESTER,  August  1,  1848. 

Received  of  C.  D.,  by  the  hand  of  E.  F.,  one  hundred  dollars,  to  ap 
ply  on  account  of  said  C.  D. 

A.  B. 


262  BONDS. 

EECEIPT   FOR  MONEY   ON  BOND. 
$200. 

ROCHESTER,  AugUSt  1,  1848. 

Eeceived  of  C.  D.  two  hundred  dollars,  to  apply  on  Ms  bond,  dated 

the day  of ,  18 — ,  being  the  same  sum  this  day  endorsed 

on  said  bond. 

A.  B. 

RECEIPT  FOR  INTEREST  MONEY. 
$140. 

ROCHESTER,  August  1,  1848. 
Received  of  C.  D.  one  hundred  and  forty  dollars,  being  the  annual 

interest  due  on  his  bond,  dated  the day  of ,  18 — ,  given  to 

me  (or  to  E.  F.),  and  conditioned  for  the  payment  of  the  sum  of  

dollars  in years  from  date,  with  annual  interest. 

A.B. 

RECEIPT  TO  BE  ENDORSED  ON  BOND. 
$140. 

ROCHESTER,  August  1,  1848. 

Received  of  C.  D.  one  hundred  and  forty  dollars,  being  the  annual 
interest  due  on  the  within  bond,  and  the  same  sum  this  day  receipted 
by  me  to  the  said  C.  D. 


A.  B. 


RECEIPT  FOR  A  NOTE  OF  THIRD  PERSON. 


ROCHESTER,  August  1,  1848. 

Received  of  C.  D.  a  promissory  note  against  E.  F.  (dated  April  4th, 
1847,  and  on  which  there  is  due  one  hundred  dollars),  which,  when 
paid,  shall  be  in  full  of  all  demands  against  the  said  C.  D. 

A.  B. 


BONDS. 

A  bond  is  an  acknowledgment,  under  seal,  of  a  debt,  duty,  or 
obligation ;  and  it  is  immaterial  what  mode  of  expression  is  used, 
provided  the  language  be  sufficient  to  establish  an  acknowledgment  of 
a  debt. 

Every  bond,  in  itself,  imports  a  consideration ;  and  a  failure  of  the 
consideration  is  not  a  good  defence  to  an  action  brought  on  the  bond. 
Fraud,  however,  or  an  illegal  consideration,  will  invalidate  a  bond. 


CHATTEL   MORTGAGES.  263 

"Wax,  or  some  other  tenacious  substance,  is  necessary  in  order  to 
make  a  legal  seal,  except  it  be  the  seal  of  a  court  or  public  officer. 

COMMON    FORM    OF  A  BOND. 

Know  all  men  by  these  presents,  that  I,  A.  B.,  of  the  town  of , 

in  the  county  of ,  and  State  of  New  York,  am  held  and  firmly 

bound  unto  C.  D.,  of,  &c.,  in  the  sura  of  one  thousand  dollars,  lawful 
money  of  the  United  States  of  America,  to  be  paid  to  the  said  C.  D., 
his  executors,  administrators  or  assigns ;  for  which  payment,  well  and 
truly  to  be  made,  I  bind  myself,  my  heirs,  executors  and  administrators 
firmly  by  these  presents. 

Sealed  with  my  seal.  Dated  this day  of ,  on©  thousand 

eight  hundred  and . 

The  condition  of  the  above  obligation  is  such,  that  if  the  above 
bounden,  A.  B.,  his  heirs,  executors  or  administrators,  shall  well  and 
truly  pay,  or  cause  to  be  paid  unto  the  above-named  C.  D.,  his  execu 
tors,  administrators  or  assigns,  the  just  and  full  sum  of  five  hundred 
dollars,  in  five  equal  annual  pajonents  from  the  date  hereof,  with  an 
nual  interest,  then  the  above  obligation  to  be  void ;  otherwise  to  re 
main  in  full  force  and  virtue. 

Sealed  and  delivered  in    } 

the  presence  of         >-  A.  B.     [L.  s.] 

G.  H. 


CHATTEL  MORTGAGES. 

Every  mortgage,  or  conveyance  intended  to  operate  as  a  mortgage, 
of  goods  and  chattels,  which  shall  not  be  accompanied  by  an  immedi 
ate  delivery  and  continued  change  of  possession  of  the  things  mort 
gaged,  is  absolutely  void,  as  against  the  creditors  of  the  mortgagor, 
subsequent  purchasers,  and  mortgagees  in  good  faith,  unless  the  mort 
gage,  or  a  true  copy  thereof,  be  filed  in  the  office  of  the  clerk  of  the 
town  where  the  mortgagor  resides  at  the  time  of  the  execution 
thereof. 

TVithin  thirty  days  next  preceding  the  expiration  of  a  year  from  the 
filing  a  chattel  mortgage  as  aforesaid,  a  true  copy  of  such  mortgage, 
with  a  statement  exhibiting  the  interest  of  the  mortgagee  in  the  proper 
ty  mortgaged,  should  again  be  filed  with  such  clerk. 

After  default  in  the  payment  of  a  chattel  mortgage,  the  mortgagee's 


264  BILL    OF    SALE. 

title  to  the  property  mortgaged  becomes  absolute  at  law,  and  lie  is 
entitled  to  the  immediate  possession  thereof. 

CHATTEL  MORTGAGE. 

This  indenture,  made  the day  of ,  between  A.  B.,  of 

;  of  the  first  part,  and  C.  IX,  of ,  of  the  second  part, 

witnesseth :  That  the  said  party  of  the  first  part,  in  consideration  of 

the  sum  of dollars,  to  him  duly  paid,  hath  sold,  and  by  thesa 

presents  doth  grant  and  convey  to  the  said  party  of  the  second  part, 
the  following  described  goods,  chattels,  and  property  (describe  them 
particularly,  or  refer  to  them  in  the  schedule),  now  in  my  possession, 

at  the of aforesaid;  together  with  the  appurtenances, 

and  all  the  estate,  title,  and  interest  of  the  said  party  of  tho  first  part 
therein. 

This  grant  is  intended  as  a  security  for  the  payment  of  one  hun 
dred  and  ten  dollars,  with  interest,  on  or  before  the  expiration  of  one 
year  from  the  date  hereof;  and  the  additional  sum  of  one  hundred 

and  forty  dollars,  with  interest,  on  the day  of-  — ,  18 — ; 

which  payments,  if  duly  made,  will  render  this  conveyance  void. 

In  witness  whereof  the  said  party  of  the  first  part  hath  hereunto  set 
his  hand  and  seal,  the  day  and  year  first  above  written. 
Sealed,  signed,  and  delivered  } 

in  presence  of  A.  B.  [L.  s.] 

G.  II.  \ 


BILL  OF  SALE. 

A  Bill  of  Sale  is  a  written  contract,  or  agreement,  transferring  and 
assigning  the  ownership  of  personal  property,  or  any  interest  in  the 
same.  If  fraudulent,  as  against  third  persons,  it  is  void. 

COMMON    BILL   OF    SALE. 

Know  all  men  by  these  presents,  that  I,  A.  B.,  of  the  town  of—    — , 

in  the  county  of .  and  Stale  of  New  York,   of  the  first  part, 

for  and  in  consideration  of  the  sum  of dollars,  lawful  money  of 

the  United  States,  to  me  in  hand  paid,  at  or  before  the  ensealing  and 
delivery  of  these  presents,  by  C  D.,  of  &c.,  of  the  second  part,  the 
receipt  whereof  is  hereby  acknowledged,  have  bargained  and  sold,  and 
by  these  presents  do  grant  and  convey,  unto  the  said  party  of  the 


POWXB    OF    ATTORNEY.  265 

second  part,  his  executors,  administrators,  and  assigns  (here  state  the 
property  sold),  to  have  and  to  hold  the  same  unto  the  said  party  of  tho 
second  part,  his  executors,  administrators,  and  assigns  forever.  And 
I  do,  for  myself,  my  heirs,  executors,  and  administrators,  covenant  and 
agree,  to  and  with  the  said  party  of  the  second  part,  his  executors, 
administrators,  and  assigns,  to  warrant  and  defend  the  sale  of  the  said 
property,  goods,  and  chattels,  hereby  made  unto  the  said  party  of  the 
second  £>art,  against  all  and  every  person  and  persons  whomsoever. 

In  witness  whereof  I  have  hereunto  set  my  hand  and  seal,  this  

day  of ,  one  thousand  eight  hundred  and . 

Signed,  sealed,  and  delivered  ) 

in  presence  of  A<  B.     ^  s  j 

G.  II. 


POWER  OF  ATTORNEY. 

A  Letter  or  Power  of  Attorney,  is  a  written  delegation  of  authority 
by  which  one  person  enables  another  to  do  an  act  for  him. 

When  a  power  is  special,  and  the  authority  limited,  the  attorney 
cannot  bind  his  principal  by  any  act  in  which  he  exceeds  that  au 
thority  ;  but  the  authority  of  the  attorney  will  be  so  construed  as  to 
include  all  necessary  means  of  executing  it  with  effect. 

When  the  power  is  in  writing,  and  subject  to  the  inspection  of  the 
party,  no  good  reason  exists  for  binding  the  principal  beyond  the  scope 
of  it ;  -  though  in  general  he  who  employs  an  agent  or  attorney  shall 
lose  by  his  fraudulent  or  illegal  acts,  in  preference  to  an  innocent  third 
person. 

GENERAL   FORM    CF   POWER   OF   ATTORNEY, 

Know  all  men  by  these  presents,  that  I,  A.  B.,  of ,  in  the 

county  of ,  and  State  of  New  York,   have  made,   constituted, 

and  appointed,  and  by  these  presents  do  make,  constitute,  and  appoint 
C.  D.,  of  &c.,  my  true  and  lawful  attorney,  for  me,  and  in  my  name, 
place,  and  stead,  to  (set  forth  the  subject  matter  of  the  power ;)  giving 
and  granting  unto  my  said  attorney,  full  power  and  authority  to  do 
and  perform  all  and  every  act  and  thing  whatsoever  requisite  and 
necessary  to  be  done  in  and  about  the  premises,  as  fully,  to  all  intents 
and  purposes,  as  I  might  or  could  do  if  personally  present,  with  full 
power  of  substitution  and  revocation,  hereby  ratifying  and  confirming 
12 


266,  DEEDS. 

all  that  my  said  attorney  or  his  substitute  shall  lawfully  do  or  cause 
to  be  done  by  virtue  thereof 

In  witness  whereof  I  have  hereunto  set  my  hand  and  seal,  this 

day  of ,  in  the  year  one  thousand  eight  hundred  and . 

Sealed  and  delivered  in  } 

the  presence  of       V  A.  B.     [L.  s.] 

G.  H.  ) 

REVOCATION  OF   A   POWER  OP   ATTORNEY. 

Know  all  men  by  these  presents,  that  whereas  I.  A.  B.,  of  &c.,  in 

and  by  my  letter  of  attorney  bearing  date  the day  of ,  in  the 

year  one  thousand  eight  hundred  and  .  did  make,  constitute, 

and  appoint  C.  D.,  of  &c.,  my  true  and  lawful  attorney,  for  me  and 
in  my  name,  to  &c.  (here  copy  the  language  of  the  Letter  of  Attorney},  as 
by  the  said  letter  will  more  fully  appear :  now  know  ye  that  I,  the 
said  A.  B.,  have  revoked,  countermanded,  annulled,  and  made  void, 
and  by  these  presents  do  revoke,  countermand,  annul,  and  make  void, 
the  said  letter  of  attorney,  and  all  power  and  authority  thereby  given, 
or  intended  to  be  given,  to  the  said  C.  D. 

In  witness  &c.  (as  in  Letter  of  Attorney). 


DEEDS. 

All  instruments  under  seal  are  deeds;  but  the  term  "  deed"  is  gene. 
rally  understood  as  applying  to  conveyances  of  land. 

The  consideration  of  a  deed  may  either  be  good  or  valuable.  A  good 
consideration  is  founded  upon  natural  love  and  affection  between  near 
relations  by  blood ;  a  valuable  consideration  is  founded  on  something 
deemed  valuable,  as  money,  goods,  service,  or  marriage. 

Every  deed  or  contract  is  void  when  made  for  any  fraudulent  pur 
pose,  or  in  violation  of  law. 

A  SIMPLE    DEED. 

This  indenture,  made  the day  of ,  in  the  year  of  our  Lord 

one  thousand  eight  hundred  and ,  between  A.  B.,  of  &c.,  of  the 

first  part,  and  C.  D.,  of  &c.,  of  the  second  part,  witnesseth:  That  the 

said  party  of  the  first  part,  for  and  in  consideration  of  the  sum  of 

dollars,  to  him  in  hand  paid  by  the  said  party  of  the  second  part,  the 
receipt  whereof  is  hereby  acknowledged,  hath  bargained  and  sold, 
and  by  these  presents  doth  bargain  and  sell,  unto  the  said  party  of  the 


DEEDS.  267 

second  part,  and  to  his  heirs  and  assigns  forever,  all  (here  describe  the 
premises ;)  together  with  all  and  singular  the  hereditaments  and  ap 
purtenances  thereunto  belonging,  or  in  anywise  appertaining;  and 
the  reversion  and  reversions,  remainder  and  remainders,  rents,  issues, 
and  profits  thereof;  and  also  all  the  estate,  right,  title,  interest,  claim, 
or  demand  whatsoever,  of  him,  the  said  party  of  the  first  part,  either 
in  law  or  equity,  of,  in,  and  to  the  above  bargained  premises,  and  to 
every  part  and  parcel  thereof:  to  have  and  to  hold  to  the  said  party  of 
the  second  part,  his  heirs  and  assigns,  to  the  sole  and  only  proper  use, 
benefit,  and  behoof  of  the  said  party  of  the  second  part,  his  heirs  and 
assigns  forever. 

In  witness  whereof  the  said  party  of  the  first  part  has  hereunto  set 

his  hand  and  seal,  the  day  and  year  first  above  written. 
Sealed  and  delivered  in      } 

presence  of  A.  33.     [L.  s.] 

G.  H.  ) 

QUIT-CLAIM  DEED. 

Know  all  men  by  these  presents,  that  we,  A.  B.,   of,   &c.,  and  E., 

the  wife  of  the  said  A.  B.,  in  consideration  of  the  sum  of ,  to 

us  in  hand  paid  by  C.  D.,  of,  &c.,  the  receipt  whereof  we  do  hereby 
acknowledge,  have  bargained,  sold,  and  quit-claimed,  and  by  these 
presents  do  bargain,  sell,  and  quit-claim  unto  the  said  C.  D.,  and  to  his 
heirs  and  assigns  forever,  all  our,  and  each  of  our  right,  title,  interest, 
estate,  claim,  and  demand,  both  at  law  and  in  equity,  and  as  well  in 
possession  as  in  expectancy,  of,  in,  and  to  all  that  certain  piece  or  par 
cel  of  land  situate  (here  give  description),  with  all  and  singular  the  here 
ditaments  and  appurtenances  thereunto  belonging. 
In  witness  whereof  we  have  hereunto  set  our  hands  and  seals,  the 

day  and  year  first  above  written. 

Sealed  and  delivered  in      ) 

f  A.  B.     [L.  s.] 

^  G.HJ  KB-     W 

WARRANTY   DEED. 

To  all  people  to  whom  these  presents  shall  come,  greeting :  Know 
ye  that  I,  A.  B.,  of  &c.,  for  the  consideration  of dollars,  re 
ceived  to  my  full  satisfaction  of  C.  D.,  of  &c.,  do  grant,  bargain,  sell, 
a.nd  confirm  unto  the  said  C.  D.,  his  heirs  and  assigns,  all  (here  give 
description;)  to  have  and  to  hold  the  above  granted  and  bargained 


268  MORTGAGE. 

premises,  with  the  appurtenances  thereof,  unto  the  said  0.  D.,  his 
heirs  and  assigns,  to  his  and  their  own  proper  use  and  behoof  forever. 
And  I  do  for  myself,  and  my  heirs,  executors,  and  administrators,  cove 
nant  with  the  said  C.  D.,  his  heirs  and  assigns,  that  at  and  until  the 
ensealing  of  these  presents,  I  am  well  seized  of  these  premises,  as  a 
good  and  indefeasible  estate  in  fee  simple,  and  have  good  right  to  bar 
gain  and  sell  the  same,  hi  manner  and  form  aforesaid ;  and  that  the 
same  is  free  from  all  encumbrance  whatsoever. 

And  further,  I  do  by  these  presents  bind  myself,  and  my  heirs,  to 
warrant  and  forever  defend  the  above  granted  and  bargained  premises, 
unto  the  said  C.  D.,  his  heirs  and  assigns,  against  all  claims  and  de 
mands  whatsoever. 
In  witness  whereof  I  have  hereunto  set  my  hand  and  seal,  the 

day  of ,  in  the  year  one  thousand  eight  hundred  and . 

Sealed  and  delivered  in 

pi'esence  of  A,  B.     [L.  s.] 

G.  H. 


MORTGAGE. 

This  Indenture,  made  the day  of ,  in  the  year  of  our  Lord 

one  thousand  eight  hundred  and ,  between  A.  B.,  of  &c.,  of  the 

first  part,  and  C.  D.  of ,  of  the  second  part,  witnesseth :  That 

the  said  party  of  the  first  part,  for  and  in  consideration  of  the  sum  of 

dollars,  doth  grant,  bargain,   sell,  and  confirm  unto  the  said 

party  of  the  second  part,  and  to  his  heirs  and  assigns,  all  (descrip 
tion;)  together  with  all  and  singular  the  hereditaments  and  appur 
tenances  thereunto  belonging,  or  in  anywise  appertaining.  This 
conveyance  is  intended  as  a  mortgage,  to  secure  the  payment  of  the 

sum  of dollars  in years  from  the  date  of  these  presents, 

with  annual  interest,  according  to  the  conditions  of  a  certain  bond, 
dated  this  day,  executed  by  the  said  A.  B.  to  the  said  party  of  the 
second  part ;  and  these  presents  shall  be  void  if  such  payment  be 
made.  But  in  case  default  shall  be  made  in  the  payment  of  the  prin 
cipal,  or  interest,  as  above  provided,  then  the  party  of  the  second 
part,  his  executors,  administrators,  and  assigns,  are  hereby  empowered 
to  sell  the  premises  above  described,  with  all  and  every  of  the  appur 
tenances,  or  any  part  thereof,  in  the  manner  prescribed  by  law  ;  and 
out  of  the  money  arising  from  such  sale,  to  retain  the  said  principal  and 
interest,  together  with  the  costs  and  charges. 


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